While thumbing through the news in this month’s E&MJ, readers will notice a few mining companies that are working with customers to attract investment for the supply of minerals rather than simply selling ore. As an example, a European battery maker (Umicore) purchased a cobalt refinery in Finland from an American mining company (Freeport-McMoRan). Umicore also struck an agreement with Swiss miner Glencore to buy cobalt from its mines in the Democratic Republic of Congo (DRC). The refined materials will be shipped to a battery factory in Poland. This is one example that demonstrates how European companies secured a supply chain for lithium-ion batteries and battery-grade minerals, essentially preparing for future demand and profiting from it.
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