Glencore Sees Big Jump in Cobalt Supply From Congo Mines
- Commodity giant plans to double cobalt output in two years
- It reported that cobalt production rose 31% during first half
Photographer: Waldo Swiegers/Bloomberg
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Glencore Plc increased cobalt production by almost a third after restarting output at its Katanga unit in the Democratic Republic of Congo.
The Swiss commodity giant is seeking to double its production of cobalt in the next two years, tightening its grip on the market for the key battery material in electric vehicles. First-half cobalt output jumped 31 percent to 16,700 tons, the company said in a statement on Tuesday.