5th Dec 2019 08:53
(Alliance News) - Glencore PLC has signed a deal to supply cobalt to allow for the production of three million electric vehicles in South Korea, the Financial Times reported Wednesday.
The six-year deal covers up to 30,000 tonnes of the commodity and has been signed with South Korean manufacturer SK Innovation.
Cobalt, which Glencore mines from the Democratic Republic of the Congo in particular, is a crucial part of the batteries used in electric vehicles.
https://www.ft.com/content/9413aeaa-16b1-11ea-9ee4-11f2604153
Glencore's London shares were 0.4% lower on Thursday morning at 237.40 pence, with Johannesburg shares up 0.7% at ZAR45.48.
By George Collard; [email protected]
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