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Cobalt Firm Says Chinese Car Companies Keen to Secure Supplies

  • Electric-vehicle makers approaching Cobalt 27 to strike deals
  • Global cobalt demand to more than double by 2025, CEO says
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Cobalt 27 CEO Anthony Milewski discusses electric vehicles, China’s EV market, cobalt prices and the upply picture.(Source: Bloomberg)

Cobalt 27 Capital Corp., owner of the world’s largest private stockpile of cobalt, said it is in talks for potential tie-ups with major Chinese companies seeking to secure supplies of the key metal in batteries powering electric vehicles.

Car and battery makers from China have approached Cobalt 27 to discuss long-term partnerships and supply contracts, Anthony Milewski, chief executive officer of the Canadian firm, said in an interview in Beijing on Monday. Milewski said he has at least 17 such meetings lined up in major Chinese cities over the next three days.