Sunrise...Financing the Mine, page-102

Ebner, the Chinese are cornering the market. While the OZ projects are getting hammered, they are scooping up copper and cobalt in the DRC like crazy. They already have 25-35 perccent of DRC cobalt...the Glencore
deal takes another 50,000 pounds out of DRC for three years. My guess is they now control over 40% of DRC cobalt.

Recent action could be a major shakeout before a monster squeeze. It is very telling that China would do a
major deal with its primary competitor in DRC for a period of three years. Not four, or five, or LOM.
Three years. Enough to get them over the hump, before new cobalt projects come on line.

The volume of the Glencore deal works out to about 17,000 tpa. This is the same order of magnitude of the
volumes reported from the artesanals.