COBALT CRAZE

Battery makers are struggling to source COBALT.

APPLE, Samsung, SDI, BMW and Volkswagen are among the companies prospecting for long-term deals related to Cobalt sourcing, as the price-

For the EV battery metal skyrockets.

Apple is looking onto buying Cobalt directly from miners in an effort to secure a stable supply, rather than relying on OEMS.

Apple is reported to be discussing multiyear contracts with mines for quantities of ''several thousand metric tons'' per annum.

Manufacturers of electric vehicles and batteries, such as BMW, Volkswagen, and Samsung SDI, are also understood to be on the market a Cobalt supply sooner than rather than later, the report added.

The price of Cobalt, an essential metal for Lithium-ion batteries has tripled to $80,000 per ton over the last 18 months, as the Democratic Republic of  Congo - which holds-

60% of the world's Cobalt resources - has increased the tax on the metal.