Jun 15th, 2018
Battery Boom Drives Vale to Sign Major Cobalt Deal
Vale SA reached agreements to sell future cobalt production in what may set a benchmark for automakers, battery makers and tech companies looking to secure long-term supplies of the metal. A $690 million upfront payment is one of the largest ever cobalt streaming arrangements and the first large-scale, long-term deal to be signed since expectations of an electric-vehicle revolution triggered a battery commodity boom. Bloomberg's R.T. Watson talks with Bloomberg's Alix Steel about the deal. (Source: Bloomberg)
