Апреля 24, 2018


Apple reportedly looking to buy cobalt directly from miners

22 Февраля 2018, 12:47 | Clyde Nash

Open this

REUTERS

Electronics and auto makers are racing to lock in supply agreements for cobalt amid fears of shortage. The challenge is that with the growth of electric and hybrid vehicles gobbling ever larger amounts of the metal, Cupertino fears a shortage that could hurt its sales figures.

Apple is believed to be in talks to buy long-term supplies of cobalt directly from miners. As it stands it has been estimated that a quarter of all cobalt production is used for smartphones, but that could change in the future.

A Bloomberg report, citing an anonymous source, said the iPhone maker was seeking contracts to buy several thousand metric tonnes of cobalt for five years or longer.

Negotiations are said to be in a preliminary stage, which means Apple may end up deciding not to go ahead with a deal, the article says.

Apple is not the only company seeking long-term cobalt supply deals: BMW has been seeking its own 10-year deal for its electric vehicle program. On average, smartphones use about eight grams of cobalt for each battery, but the battery for an electric vehicle requires over 1,000 times more.

Also, it is unclear if the African country's cobalt supply will last long enough to match California's and other USA states' ambitions to replace diesel-powered vehicles with electric ones.

Читайте также: Turkish court rules for Deniz Yücel's release as it accepts terror indictment

The price of cobalt has more than tripled in the past 18 months to trade at more than US$80,000 a metric tonne.

Ivan Glasenberg, the chief executive at mining firm Glencore, said late past year that Apple was among several companies that the Anglo-Swiss enterprise was talking to about cobalt, without giving further details.

"The problem has nothing to do with the amount of cobalt in the ground but rather the number of mines now producing cobalt", said Trent Mell, CEO of First Cobalt Corp, the world biggest cobalt exploration company.

Apple is among the largest consumer of cobalt.

In recent years, Apple has stepped up its engagement with cobalt suppliers after the origin of the metal in its supply chain came under scrutiny from human rights groups.

According to report by Amnesty International in 2016, close 60 percent of the world's cobalt supply comes from the Democratic Republic of the Congo mined by approximately 20 percent under-aged children with hand. Currently, around 25 percent of the annual cobalt production is used in mobile devices.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог



Other News

Trending Now

Venezuela launches its own cryptocurrency, the "Petro"
Furthermore, should President Maduro lose the election in April, "then petros would probably be made illegitimate", he added. Some investors say it's innovative nonetheless, and could draw investment from Middle East, Europe and Asia.

Donald Trump: Democrats defended election integrity until they lost
Trump tweeted, going on to assert: "I have been much tougher on Russian Federation than Obama, just look at the facts". We also know now that Russia's goal in meddling in the election was not to help Trump or Clinton win.

Celebrating the meaning of Presidents' Day
For many years recently, both men's birthdays have been celebrated together as "Presidents' Day" on the third Monday of February. Long Beach City College will suspend classes Monday, while California State University, Long Beach, will keep its campus open.

Your letters: Justin Trudeau's trip to India seems like a vacation
Trudeau said he is looking forward to new co-production oppurtunities between Bollywood and the Canadian Film Industry. Trudeau is scheduled to pay obeisance at the Golden Temple along with his family.

Uttarakhand: Woman Held in Dowry Case, Poses As Man, Married Twice
After allegedly dressing up as a man for 4 years, reports say she tricked the women into marriage so she could get dowry. The second wife, say police, had realised Sen was not a man, but did not speak out as she was promised money.

Search continues for missing Uber/Lyft driver last seen in LA
Police transported the man to a local hospital, where he was identified as Thiede. "At this time, we do not have all the details". She said her son makes ends meet by driving for Uber and Lyft, frequently picking up passengers in the Koreatown area.

Iran: 'Scattered Bodies' at Aseman Airlines Wreckage Site
Those sanctions have been mostly lifted under a 2015 deal between Iran and the United States alongside several other powers. Iran's Transport Minister Abbas Akhoundi was quoted by Tasnim news agency saying: "We are facing a total enigma".

Hornets fire GM Rich Cho amid disappointing season
Kupchak won two titles with the Lakers as their GM before he was ousted in favor of Magic Johnson and Rob Pelinka. We are deeply committed to our fans and to the city of Charlotte to provide a consistent victor on the court.

Remove T20 cricket from worldwide schedule - Trevor Bayliss
England have called up Craig Overton to replace the injured Liam Plunkett for the upcoming five-match ODI series in New Zealand . New Zealand will face off against England in the T20I Trans-Tasman tri-series on Sunday afternoon at Seddon Park, Hamilton.

Men's basketball claims another win over top-25 team
The Buckeyes went 3-0 without him, but they'll take the boost and his added 3-point shooting punch. Ohio State's Kelsey Mitchell is second at 24.6 and Michigan's Katelynn Flaherty is fifth at 23.6.