FINANCIAL TIMES: Cobalt shares rally after Glencore shocks market with sudden sales halt

Financial Times

Shares in cobalt producers rallied on Wednesday following news that Glencore, the world’s largest producer, had halted sales at its mine in the Democratic Republic of Congo.

“This news highlights the fragility of the supply chain for battery metals when concentrated so heavily in one area,” Brian Menell, chief executive of London-based TechMet, which is looking to acquire stakes in projects mining cobalt and other technology metals, said. “We therefore expect to see short term volatility in the price due to this disruption.”