World’s biggest cobalt miner is gloomy on the EV metal’s future

Quick Summary:

The world’s No.1 cobalt miner is sounding the alarm over the shrinking role of the metal in electric vehicle batteries.

CMOC has been forging closer ties with Contemporary Amperex Technology Co.Ltd., the world’s largest battery manufacturer that also became its second-largest shareholder in 2022.

CMOC’s bearish view of the market comes amid a glut of the metal that’s been largely created by the Chinese firm’s expansion of two huge copper-cobalt mines in the Democratic Republic of Congo.

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Article Details

Author / Journalist: BusinessMirror

Category: BusinessStartups

Markets: PhilippinesChinaCongoIndonesia

Topics: Cobalt Cmoc Years Market Been Prices Chinese Zhou Output Batteries Metal

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 15:14:34 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 559 words

Reading Time: 4 minutes read

Sentences: 15 lines

Sentence Length: 38 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23449082

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 86 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 13 hours ago

Coverage Areas: Philippines

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Publisher ID: #37

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