Glencore signs deal to supply 20,000 tons of cobalt to Chinese firm CATL – report
CATL agreed to buy Cobalt from Glencore only after Volkswagen assured of buying lithium-ion batteries
Glencore has signed a contract to supply up to 20,000 tons of cobalt products to Chinese battery manufacturer Contemporary Amperex Technology Co Ltd (CATL), Reuters reported on Thursday (6 July). The two companies reached a four-year deal to supply Cobalt hydroxide and alloys, a key raw materials used in the production of lithium-ion batteries, in October 2016. The lithium-ion battery cells, produced by CATL using Cobalt from Glencore, will be supplied to Volkswagen, the report said.
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