cobaltinvesting
Volvo (STO:VOLV-B) has introduced a new supply chain tracker for its line of EX90 electric SUVs The Wall Street Journal reported on June 4 that the tracker will provide transparency about the origins of raw materials — such as lithium, cobalt and nickel — used in the Swedish carmaker's electric vehicle (EV) batteries. Known as a "battery passport," the tracker is a digital record that contains verified information on the raw materials' origins, weight, size and chain of custody, as well as the recycled content within each battery. The tool was designed to ensure responsible sourcing and improv...
Investing News Network
Fortune Minerals (TSX:FT,OTCQB:FTMDF) will be working to secure strategic partners to invest in the NICO project following recent funding from the US and Canadian governments totaling C16.2 million to advance the cobalt-gold-bismuth-copper project to production, CEO and President Robin Goad told the Investing News Network. “So the financing plan for our asset, after we complete all the engineering and permitting work that's being covered by the US and Canadian governments, is to seek the project financing, which would probably be a combination of debt, but also equity. And the equity would be ...
Investing News Network
A report from Reuters suggests that China is gearing up to make a big move in the cobalt market, with plans to acquire up to 15,000 metric tons (MT) of cobalt metal from local producers this year. The acquisition, overseen by the state’s National Food and Strategic Reserves Administration, aims to bolster the country's stockpiles as it jumps from the 8,700 MT of cobalt metal purchased last year. The country’s decision to purchase such a substantial amount of cobalt is driven by several factors. Firstly, cobalt is a critical material in the production of electric vehicle (EV) batteries, an indu...
Investing News Network
The cobalt market put on a mixed performance in the first quarter of 2024 as metal prices stalled and contracted, while sulfate and hydroxide values increased. The sector is divided into three segments. Cobalt metal is used as an alloy to strengthen and harden, while cobalt hydroxide is used in lithium-ion batteries, electronics and paint pigments. Lastly, cobalt sulfate is used to make storage batteries, electroplating baths and some animal feed. After reaching a second all-time price high in 2022 — US$82,200 per metric ton (MT) — cobalt metal prices have been retracting. They spent the first...
Investing News Network
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