Cobalt Rally Risks Pushing Away Battery Makers, Top Miner Says

Battery makers will hasten a shift away from cobalt if the metal’s price — boosted by export limits in the Democratic Republic of Congo — goes even higher, said an executive at the biggest miner of the metal.

“I think it’s at the upper end of what people will tolerate without being forced to switch,” Kenny Ives, chief commercial officer at CMOC Group Ltd., told Bloomberg News in London on Tuesday.