https://www.engineeringnews.co.za

Chinese control of cobalt supply risk for EU car industry – Glencore

20th March 2018

By: Reuters

  

Font size: - +

LONDON – Glencore chief executive Ivan Glasenberg said that the automotive industry is waking up too late to the fact that the Chinese will hold most of the world's global cobalt supply, a key metal for electric vehicle (EV) batteries.

"If cobalt falls in hands of the Chinese, yeah you won't see EVs being produced in Europe. They are waking up too late... I think it's because the car industry has never had a supply chain problem before," Glasenberg told the FT Commodities Global Summit in Lausanne, Switzerland.

About 70% of global cobalt production comes from the Democratic Republic of Congo. Glencore, the world's biggest producer, agreed last week to sell a third of its output to China's GEM.

Glasenberg said he was nevertheless prepared to sell cobalt mines in the DRC to China if it came with a very good price. He added that the company wasn't changing production plans in the DRC and that the working group of miners were still working with the government on stability clause length and royalties.

Edited by Reuters

Comments

Showroom

Magni SA
Magni SA

Magni SA is committed to developing the safest Telehandlers available to our customers for underground and surface mining, construction, forestry,...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.177 0.226s - 137pq - 2rq
Subscribe Now