DAVOS, Switzerland : Most cobalt producers are likely to be losing money on every ton of cobalt they produce after a price slump last year, Benedikt Sobotka, chief executive at metals miner Eurasian Resources Group (ERG), said on Tuesday.Chinese-owned companies are aggressively expanding cobalt mining in
Most cobalt producers are likely to be losing money on every ton of cobalt they produce after a price slump last year, Benedikt Sobotka, chief executive at metals miner Eurasian Resources Group (ERG), said on Tuesday. Chinese-owned companies are aggressively expanding cobalt mining in Congo and Indonesia despite the price drop, as they strive to gain market share in the metal used in electric vehicle (EV) batteries. ERG, 40% owned by the Kazakh government, has assets in Kazakhstan, the Democratic Republic of Congo and Brazil producing cobalt, copper, aluminium and ferroalloys.
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