Apple is one of the biggest buyer of cobalt for its iPhone devices. The company requires sufficient cobalt for the batteries of their smartphone devices. Now reports and rumors are confirming that the Apple and Miners made a contract for the Cobalt. Apple will directly buy material from Miners. The purchase of several thousand metric tons of cobalt will continue for a longer time, expecting more than a five years from Miners.
We all aware of the cobalt demand in the market has been increased and many of smartphone manufacturers are going to access the cobalt for their devices. So, the prices of this metal are increasing. Lithium-ion batteries for the electric vehicles are pushing for the demand of the Cobalt. According to the report,
“The move means Apple will find itself in competition with carmakers and battery producers to lock up cobalt supplies. Companies from BMW and Volkswagen to Samsung SDI Co. are racing to sign multi-year cobalt contracts deals to ensure they have sufficient supplies of the metal to meet ambitious targets for electric vehicle production.”
Apple has made no comments about the cobalt deal. But a creditable source cites the demand and deal of the metal for iPhone batteries. What are your thoughts? Share your thoughts with us by leaving comments in the comments section given below!