- China signed a deal to secure a huge amount of the global supply of cobalt.
- The Chinese company GEM will purchase 50,000 tonnes of cobalt over three years, which amounts to half the world’s supply in 2017.
- The deal locks in China’s position as a market leader in the manufacturing of electric car batteries globally.
China has signed a huge deal to secure the lion’s share of global cobalt supply — a core component of electric car batteries.
The deal will see GEM — a $ 4.6 billion company listed on the Shenzhen stock exchange — purchase 50,000 tonnes of cobalt from mining company Glencore over the next three years.See the rest of the story at Business Insider
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