CX Daily: Congo’s Cobalt Controls Deepen Uncertainty for Chinese Miner
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Cobalt /
In Depth: Congo’s Cobalt Controls Deepen Uncertainty for Chinese Miner
It has been a rough year for the world’s largest cobalt producer.
Shanghai-listed CMOC Group Ltd.’s sales fell over 17% year-on-year in the second quarter, according to the miner’s earnings results. By the end of June, its inventory of the metal, a key raw material for the lithium-ion batteries that power smartphones and electric vehicles (EVs), had increased 35% to more than 57,000 tons.
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