Having seen the metal triple in price to $80,000 United States dollars per ton over the last 18 months due increasing demand for cobalt in EV batteries, Apple is aiming to secure its own cobalt supply rather than relying on OEMs.
Bloomberg reports that it could be the first time that Apple buys cobalt directly from miners.
And, according to the sources, that's exactly it. Carmakers are also racing to lock up cobalt contracts as they prepare to make more electric vehicles.
Apple's reported move to buy cobalt directly from miners could bring efficiency to the Democratic Republic of Congo's troubled mining sector, but it will likely only muddle an already murky field.
Mueller Charges Lawyer With Lying During Investigation Alex Van Der Zwaan worked at the London office of Skadden, Arps, Slate Meagher & Flom, according to his Linkedin page. Mueller has accused Manafort and Gates of secretly funneling $4 million through offshore accounts to pay for it.
And its not like it's just a small amount of the material the iPhone flogger is looking to buy.
People familiar with the matter said Apple is trying "to secure several thousand metric tons of cobalt a year for five years or longer" in discussions that have been going on for more than a year.
Apple is not the only company seeking long-term cobalt supply deals: BMW has been seeking its own 10-year deal for its electric vehicle program. In response, for the first time a year ago, Apple released a list of all the companies from which it secures the supply of raw material.
In December, Swiss mining giant Glencore said it was in discussion with Volkswagen and Tesla to supply them with cobalt, according to managing director Ivan Glasenberg, quoted by Bloomberg.
Two Netanyahu Aides Probed over Corruption The attorney general must now decide how to move forward with the police recommendations, a process that could take months. Last week, police recommended that Netanyahu be indicted for fraud, breach of trust, and bribery in two other cases.
Amnesty International published a report in January 2016 about cobalt mines, saying that tech companies and auto manufacturers aren't doing enough to prevent child labor in the Democratic Republic of the Congo - the country is responsible for 50 percent of global cobalt production. South Korea's top oil refiner, SK Innovation Co., agreed to a deal this week of $3.9 billion with Australian Mines Ltd. BMW is also close to securing a 10-year supply deal.
"As a result, the global proven reserves of cobalt are dependent on the economic viability of the relevant copper and nickel mines", cautioned analysts at Natixis.
In recent years, Apple has stepped up its engagement with cobalt suppliers after the origin of the metal in its supply chain came under scrutiny from human rights groups.
The Bloomberg report said Apple was not immediately available for comment outside regular business hours.
The Anti-Valentine's Day Gift Guide Staying in makes it clear that you're not treating this like a special occasion, which is an important distinction to make. Wednesday is Valentine's Day , and there are tons of ways to show that special someone how much they mean to you .
Comment below, let us know! " These things do happen in TV ", he said. "Lauren is an actor who has such intuition and such power". The Walking Dead: Then and now Fri, June 16, 2017 Walking Dead: The cast of the cult show pictured then and now.
School Superintendent Christopher DiLoreto said the school is still considering whether there will be classes Wednesday. The parent of another student said she learned of the incident when the elementary school began sending students home.
He says he is fighting a US-led worldwide right-wing conspiracy to topple socialism and win control of Venezuela's oil wealth. It has reportedly already drawn investment from Turkey, Qatar, and other Middle Eastern countries.
An external security contractor did not follow "standard closing procedures" on the night of the party, Santo said last week. The Franklin Institute extended its apology to the centre for security loopholes, according to the statement.
Which is why, starting Tuesday, Donny Jr. will head to India for an "unofficial visit" that looks like an ethical nightmare. Incidentally, Indian Prime Minister Narendra Modi is also slated to speak at the summit.
The ONS attributed the rise in unemployment to a fall in the number of people who are neither working nor looking for a job. Officials from the Bank of England may take encouragement from pay increasing 2.8 percent on the year in December alone.
Although H3N2 has predominated, influenza A (H1N1) and influenza B viruses have also been in circulation across the country. The new vaccines, Fluad and Fluzone High Dose, are specifically targeted at strains that were prevalent a year ago .
But if his shoulder problem returns, it could be hard for him to get regular at-bats with Martinez now the team's DH. The Red Sox owned baseball's best offence in 2016, but the loss of Ortiz was evident in 2017.
Thousands of prisoners were since pardoned or released from custody, including some of the country's most prominent dissidents. Following recent unrest, much of it in the Oromia region, Ethiopia's new premier is expected to hail from the province.
Chemistry building for US in men's hockey
Slovaks kicked off the Olympics by defeating the tournament's favourite, the Olympic Athlete from Russian Federation , 3:2. If anything, they seem more up to the task than some of their older teammates, who have looked overmatched at times .
Pune Hyperloop project: All you need to know
A demonstration track is scheduled to be built in two to three years from the signing of the final agreement. Tube-based transport system promises to cut travel time between the two cities to just 25 minutes.
Virtue and Moir smash record for gold
Humphries of Calgary is trying to become the first bobsledder, male or female, to win Olympic gold three times in the same event. The third US team in the field, Madison Chock and Evan Bates , finished ninth in their second Olympic appearance together.
Exynos Galaxy S9 Plus Model Hits Geekbench With 6GB Of RAM
According to the grapevine, the company might also be announcing the Galaxy Tab S4, the successor to last year's Galaxy Tab S3 . Unlike the smaller variant, the handset will have a separate iris scanner, making it resemble the S8+ from previous year .
Coca-Cola HBC delivers earnings beat and confident outlook
Hence the difference between Predicted EPS and Actual EPS reported is $0.01/share which shows an Earnings Surprise of 2 Percent. Values of %D line that are above 80 indicate that the security is overbought; prices could well fall in the near future.