CLA - Cobalt related news, page-134

China signs huge cobalt supply deal with Glencore

Mar. 14, 2018 4:13 PM ET|About: Glencore Plc (GLCNF)|By: Carl Surran, SA News Editor
China tightens its grip on the global cobalt market as it signs a major agreement with Glencore (OTCPK:GLCNF, OTCPK:GLNCY) for three years' supply.
The agreement with China's GEM would supply more than 50K metric tons of cobalt over three years for its battery materials production, which equals roughly half the total amount of cobalt produced in the world last year and a third of the output of Glencore’s forecast production for the 2018-20 period.
The deal highlights China's desire to dominate the electric car industry, Financial Times reports, noting that the country already produces more than 80% of the world’s refined cobalt.
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So a third to half the cobalt in the world just got taken off the table and this was from a place that is unstable and has now declared it a strategic resource.
If you look at all the offtake deals and takeovers happening with cobalt and lithium I'd suggest CLA is in a prime position if we can shore up a decent resource.
IMO