No 1 source of global mining news and opinion
The world’s No. 1 cobalt miner is sounding the alarm over the shrinking role of the metal in electric vehicle batteries.
“We predict that EV batteries will never return to the era that relies on cobalt,” Zhou Xing, a spokesman for CMOC, said in an emailed response to questions. “Cobalt is far less important than imagined” and the proportion of batteries containing the metal may eventually drop to less than a tenth, he said.
Cobalt, which is also used in aerospace alloys and in the petrochemical industry, is often extracted as a by-product of digging up copper, and CMOC has been eager to mine more of the red metal as it’s bullish on it in the longer term. Hoarding cobalt to stem a decline in prices would be pricey due to the increase in expenses, such as for warehousing, according to Zhou.
“A secure and stable supply of cobalt enables us to better meet customer demand,” a CATL spokesman said in an emailed response to questions. Investing in upstream suppliers was a way “to ensure supply chain security,” however the company believes the market share of LFP batteries will continue to rise, he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Strange New Worlds Season 3’s Premiere Honors A Classic Star Trek: TNG TraditionJohn Orquiola is the head of Screen Rant&039;s Star Trek Movies & TV coverage, a Senior Features staff writer, and Interviewer.
Read more »
Star Trek’s Original Pilot Ingeniously Fulfilled Its Strange New Worlds Mission In 1 EpisodeJohn Orquiola is the head of Screen Rant&039;s Star Trek Movies & TV coverage, a Senior Features staff writer, and Interviewer.
Read more »
Naruto x Transformers Crossover Shares First LookThe worlds of Naruto's Konoha and Transformers' Cybertron are meeting for the first time!
Read more »
Nicolas Cage Would Be "Amazing On Star Trek: Strange New Worlds," Says Wil WheatonNicolas Cage with the cast from Star Trek Strange New Worlds
Read more »
CBS News Trump-Harris poll shows one election, two worlds: How information, beliefs shape tight campaignTrump is one point closer to Harris nationally in CBS News' polling than last month, and the decisive battleground states also remain effectively even.
Read more »
Tawny Newsome: Mariner Is “Weird, Chaotic, Stressful” In Star Trek Lower Decks Season 5Beckett Mariner in Star Trek Strange New Worlds and Lower Decks.
Read more »