Apple could be buying cobalt from mining companies directly


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. Cobalt is used in making batteries that are incorporated in a wide-range of Apple devices, with the primary bread and butter of the company being iPhones. About a quarter of total cobalt production is used by the smartphone companies to manufacture the batteries, according to Bloomberg.

People familiar with the matter said Apple is trying "to secure several thousand metric tons of cobalt a year for five years or longer" in discussions that have been going on for more than a year.

What's more, not only Apple is racing to secure its cobalt supplies.

Talks with cobalt miners could be the outcome of concerns over the shortage of cobalt as the demand from the electric vehicles escalates. In response, for the first time previous year, Apple released a list of all the companies from which it secures the supply of raw material.

An Apple spokesman declined to comment. South Korea's top oil refiner, SK Innovation Co., agreed to a deal this week of $3.9 billion with Australian Mines Ltd. BMW is also close to securing a 10-year supply deal.

Talking to reporters in London last December, Glasenberg said the company had held talks with Apple, Tesla (TSLA.O) and Volkswagen (VOWG_p.DE) as part of ongoing discussions with industrial clients.

South Africa opposition EFF to boycott election of new president
The EFF again protested as the Speaker of Parliament refused to allow their motion to debate the dissolution of Parliament. Malema admitted he felt robbed by the fact that he would not be leading a motion of no confidence against Zuma.

Cobalt prices have risen three-fold in the past 18 months to more than $80,000 per metric tonne.

DRC's near-monopoly position in cobalt mining has been fraught with ethical and economic issues, most notably child labor in the mines.

Hong Kong-traded China Molybdenum, based in the central province of Henan, bought a 56 per cent stake in Congo-based copper and cobalt miner Tenke Fungurume Mining for US$2.65 billion in 2016.

Industry sources said Apple had spoken to miners such as Glencore (GLEN.L), a top producer, which said late last year it would produce around 39,000 tonnes of cobalt this year.

Compounding the predicted supply bottleneck is the fact that a considerable proportion of the global cobalt supply comes from "artisanal" miners that employ young children, operate outside of authorized mining areas, and work without basic safety equipment, according to a report a year ago from the human rights organization Amnesty International.

Related news:

Hot News

isis-killer-beheading-video-story-top Virgin Sings Agreement to Build Mumbai-Pune Hyperloop
Feb 21, 2018 - 08:06
A proposed full route between Mumbai and Pune would reduce a three hour plus train trip and 2.5 hour drive to a 25 minute journey. The plans are to construct a hyperloop between Mumbai and Pune, a corridor 130,000 vehicles travel daily.

isis-killer-beheading-video-story-top Thirteen Russian Nationals Charged for US Election Meddling
Feb 21, 2018 - 08:05
It's about the United States of America, which right now could use a leader who will defend the integrity of its democratic processes.

isis-killer-beheading-video-story-top Maggie's Future On 'The Walking Dead' Is Looking Extra Grim Now
Feb 21, 2018 - 08:03
The Hollywood Reporter says Cohan "had been actively looking for her next role as she battles AMC over her season nine salary". It is understood that AMC offered Cohan a "modest" salary increase and a longer contract instead, which she rejected.

isis-killer-beheading-video-story-top Black Panther 'has shattered false Hollywood beliefs' says Will Smith
Feb 21, 2018 - 08:03
It felt like everybody watched " Black Panther " and the numbers show it. And don't think that meant just throwing on a Black Panther T-shirt.

isis-killer-beheading-video-story-top Virtue, Moir win for 3rd career gold
Feb 21, 2018 - 08:03
American siblings Maia and Alex Shibutani , known as the "Shib Sibs", won bronze after entering the free dance in fourth. We'll probably make an announcement in the coming days, but for us we just want to enjoy this right now", said Moir.

isis-killer-beheading-video-story-top Google builds AI that can predict heart disease
Feb 20, 2018 - 20:43
Given the fact that heart diseases is one of the leading causes of deaths in the world, this algorithm could be a big breakthrough.

isis-killer-beheading-video-story-top Trump Criticizes Oprah For Being 'Biased And Slanted'
Feb 20, 2018 - 20:42
It was edited by Lisa Orlando with help from Sarah Shafer Prediger, Will Croxton, and Rebecca Chertok Gonsalves. When Oprah asks how, she says, "Well, I feel like I can say Merry Christmas to anyone I want wherever I want".

isis-killer-beheading-video-story-top Burnout Paradise: Remastered Coming To PS4 & Xbox One On March 16th
Feb 20, 2018 - 20:41
Now, ten years later, Burnout Paradise is making an appearance on PlayStation 4 as Burnout Paradise Remastered . Burnout Paradise Remastered will be available on March 16 for the PlayStation 4 and Xbox One .

isis-killer-beheading-video-story-top Trump Jr. arrives in India to address "Reshaping Indo-Pacific Ties"
Feb 20, 2018 - 20:35
India is Trump Organisation's biggest worldwide market , with projects in four cities - Mumbai , Pune, Gurugram and Kolkata . Trump Jr. took on day-to-day control of the Trump Organization when his father became president in 2016.

isis-killer-beheading-video-story-top President Trump endorses Mitt Romney's US Senate bid
Feb 20, 2018 - 20:35
Mitt Romney has announced that he will be running for a Senate seat in Utah . Fun flashback: watch the last time Trump endorsed Romney for something .

isis-killer-beheading-video-story-top Samsung Galaxy S9 and Galaxy S9 Plus Specifications and Press Photos Leaked
Feb 20, 2018 - 20:32
A new Android tablet has made an appearance on GFXBench and it hints at Samsung releasing a Galaxy Tab S4 in the near future. The phones are powered by octa-core chipsets , and both carry 4GB of RAM and 64GB of expandable storage (up to 256GB).

isis-killer-beheading-video-story-top JD Martinez agrees to five-year deal with Boston Red Sox
Feb 20, 2018 - 20:31
In essence, that night summed up Martinez's summer with the D-backs and his 2017 season in general, so Red Sox fans: Have fun. The deal is reportedly worth $110 million over five years, according to Jon Morosi , with a player opt-out after two years .

isis-killer-beheading-video-story-top Ankara, Berlin willing to mend ties: Turkish PM
Feb 20, 2018 - 20:25
It all depends on the court, but I think there will be development soon, Yildirim said. A balloon featuring the likeness of Deniz Yucel in Berlin .

isis-killer-beheading-video-story-top Boko Haram Kills 15 In Borno
Feb 18, 2018 - 07:02
The conflict with Boko Haram has killed more than 20,000 people and forced over two million to flee their homes. Bulama Kaka, a resident who witnessed the incident, told TheCable it occurred around 7pm.

isis-killer-beheading-video-story-top Russian Mercenaries Killed by US Air Strikes in Syria
Feb 18, 2018 - 07:00
Interestingly, the Russian Defense Ministry said it had nothing to do with the attack and the U.S. accepted the claim- with U.S. It marks the first time Russian and US combatants have become directly engaged in combat in Syria , according to the outlet.