RE: divi4 Dec 2020 19:54
Glencore Plc, the world’s biggest supplier of cobalt, has extended its supply agreement with battery maker GEM Co., allowing the Chinese company to secure supply of the crucial metal until the end of the decade.
The deal ensures GEM will have a steady supply of the battery-making ingredient until at least 2029, and further strengthens China’s growing dominance of the industry. Glencore said Thursday that it will sell 150,000 tonnes of cobalt between 2020 and 2029. It replaces a previous agreement to sell about 60,000 tonnes through 2024.