Umicore: signs cobalt supply deal with Glencore

(CercleFinance.com) - Belgian specialty metals group Umicore said that it has entered into a long-term agreement with global miner Glencore for the supply of cobalt to its battery materials business.


The cobalt will be sourced from Glencore's industrial mining operations in the Democratic Republic of the Congo, and will be shipped to Umicore's cobalt refineries globally, including the Kokkola refinery in Finland that the Belgium-based company recently bought.

The deal guarantees Umicore's supply for a substantial part of its longer-term cobalt requirements, while providing Glencore with long-term market access for its cobalt raw materials, the companies said.

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