Apple reportedly buying long-term supplies of cobalt directly from miners

Apple reportedly buying long-term supplies of cobalt directly from miners”

Apple is in talks to buy cobalt directly from miners to help shield it from any shortages sparked by the boom in electric cars, according to a report from Bloomberg.

Dealing direct with mines would provide a guaranteed supply for Apple's batteries.

The talks show that the tech giant is keen to ensure that cobalt supplies for its iPhone and iPad batteries will be sufficient, with the rapid growth in battery demand for electric vehicles threatens to create a shortage of the raw material. An electric auto battery uses one thousand times more refined cobalt than a smartphone does, therefore meaning that it's actually the automobile industry which is taking up cobalt supplies.

Cobalt is an essential ingredient in lithium-ion batteries for smartphones.

In order to produce the millions of batteries needed for the next generations of iPhones and iPads, Apple is looking to acquire a few thousand metric tons of cobalt annually for at least the next five years. Over the past eighteen months, the price of cobalt has tripled to more than $80,000 a metric ton.

Oxfam announces comprehensive action plan after 'stain' of sex scandal
The names of the men involved have already been shared with the authorities in Haiti. Oxfam has nearly 10,000 staff working in more than 90 countries across the globe.

"France will strike" if proven chemical bombs used in Syria
He added that is such proof is found, France will strike the places from where the shipments of chemical weapons are originating. Despite repeated USA warnings, the Syrian regime was reported to have used chlorine gas in Idlib Province earlier this month.

Prince Harry and Meghan Markle visit Edinburgh
Ms Markle's trips echo those of her husband-to-be, who visited the mosque with his brother, the Duke of Cambridge, in September. It's called "Social Bite", and the work being done there has already attracted attention from Hollywood royalty.

Other companies such as Samsung, BMW and VW are also racing to secure supplies, according to the report.

Cobalt demand from the electric vehicles industry is also forecast to grow from to 95,000 tonnes by 2026 from 12,000 tonnes a year ago, according to consultancy CRU.

A second benefit of direct control over the cobalt supply-chain right from the mines onward would be that Apple could guarantee compliance with its supplier standards.

The London Metal Exchange (LME), the world's biggest market for industrial metals, has also stepped up efforts to make sure that cobalt mined by child labour doesn't trade on the exchange, following several reports indicating that minors are being exploited to extract the coveted mineral. About 60 percent of the world's cobalt supply comes from the Democratic Republic of the Congo, and about 20 percent of it is mined by hand by children, Amnesty International reported in 2016.

Industry sources said Apple had spoken to miners such as Glencore, a top producer, which said late last year it would produce around 39,000 tonnes of cobalt this year.

Like this


22 February 2018
Columbus Student Arrested after Posting Threat on Snapchat
The message included a video of himself at a gun range shooting an AR-15 - the same weapon used in the Parkland shooting. Officers took the girl to a juvenile detention facility on charges of making a terroristic threat.

21 February 2018
Japanese 'baby factory' dad wins custody of 13 Thai surrogate children
Thirteen babies were taken into care in 2014 and have been watched over by the Ministry of Social Development and Human Security. Growing up with a biological parent will also be in the children's best interests, the court added.

21 February 2018
Trump tweets denial of woman's claim he kissed her without consent
However Trump, who married his wife Melania a year before the alleged encounter took place, has now responded, using Twitter to issue a full and frank denail.

21 February 2018
Supreme Court Lets California's Gun-Buying Waiting Period Stand
It was created so authorities have time to do background checks and in case a person is trying to by a gun to do harm. California Deputy Attorney General Jonathan Eisenberg represented California Attorney General Xavier Becerra .

18 February 2018
Canadian men's hockey team loses 3-2 in shootout to Czech Republic
The Czechs are installed at +218 to prevail in regulation after barely squeaking out a 2-1 win over a plucky Korean side. Mason Raymond and Rene Bourque scored for Canada, which wraps up preliminary-round play Sunday against South Korea.

18 February 2018
Heavy Snow Possible Saturday Night, Weather Service Says
Generally favoring one to three inches of snow on the grass in these areas with an isolated area getting a little more. The weather service says the wind and snow will create hard driving conditions, especially for high-profile vehicles.

15 February 2018
New Horizons Snaps Farthest Image Ever Taken From Earth
Voyager 1's cameras were turned off shortly after that portrait, leaving its distance record unchallenged for more than 27 years. The space probe was even farther from home than NASA's Voyager 1 when it captured the famous "Pale Blue Dot" image of Earth .

12 February 2018
Colts' Frank Reich hire a luxury after messy coaching search
He was part of the Colts' run to the Super Bowl in 2009, leaving when Caldwell was sacked after the 2011 season. The team on Sunday announced they have hired the Eagles offensive coordinator as Indianapolis' new head coach.

12 February 2018
Freezing rain expect Sunday, Environment Canada
A significant snow event is in effect for the City of Cambridge beginning at 6 a.m. on Sunday, Feb. 11 until 6 a.m. on Monday, Feb. 12.

12 February 2018
Javi Gracia says Watford were too 'soft' in defeat by West Ham
While the Hammers sit in 12th spot in the league standings, they are just three points above the relegation zone in what is a congested bottom half of the table.