EU green plan boosts cobalt, aids responsible sourcing, ERG CEO says

The EU’s plan to make electric vehicles a centerpiece of the continent’s economic recovery has injected significant confidence into the global cobalt market, and has also renewed momentum for responsible sourcing across the whole supply chain, according to the head of Eurasian Resources Group (ERG).

Recent government and industry association initiatives across the EU may also provide the boost required to set a floor for cobalt prices, ERG chief executive officer Benedikt Sobotka said.
“Market sentiment has improved considerably, and the industry is also increasingly seeing cobalt consumers and original equipment manufacturers [OEMs], globally, taking steps to ensure that they deal with clean cobalt, produced under circumstances which do not contravene internal procurement policies or international law,” he said.
Sobotka noted that if the cobalt industry were to widely embrace recent commitments to remove artisanal mine supply from value chains over the coming months, the cobalt market would rapidly move into deficit.

“While there are reports of significant stock buildup of artisanal cobalt concentrate...

Published

Andrea Hotter

June 02, 2020

18:56 GMT

New York