CLA - Cobalt related news, page-3321

Let's try to keep tabs on Glencore, the "big bro" of cobalt production. The developments over the last year have setup a very interesting picture:
- Glencore has 2 main projects for cobalt production, the Mutanda mine and the Kamoto mine.
- produced 46.3 kt of cobalt in total in 2019.
- it is said that the Kamoto mine alone is able to produce "up to" 30 kt/year
- operations at Mutanda was halted late last year
- that means, moving forward, we can assume that the annual cobalt output from Glencore would be a maximum of 30 kt/year (28 kt/year expected according to Glencore)
- deal signed with Umicore in May last year: long-term, volume is unspecified
- deal signed with GEM in October last year: 12 kt/year over 5 years
- deal signed with SKI in December last year: 6 kt/year over 5 years
- deal signed with Samsung SDI Feb this year: 4 kt/year
- deal signed with Tesla a couple of weeks ago: 6 kt/year

Ignoring the Umicore deal and adding up the annual supply volumes from all the other deals against their maximum output capacity, that's 28kt against 28-30kt per year.

Based on all these figures, it would mean that the biggest supplier of Cobalt has just been nullified, taken completely out of the market. This is an exciting situation for anyone invested in Cobalt!