Heightened ownership of the Mutanda and Katanga mines in the Democratic Republic of Congo (DRC) puts cobalt in a strong potential earnings position Glencore, the world’s dominant supplier of the metal that is attracting attention on its growing use in electric vehicles (EVs). In an equity research document on Glencore, Barclays mining analysts Ian Rossouw, Amos Fletcher and James Hutchison point out that the cobalt price has already risen by 50% in the year to date to $22/lb and suggests much scope for it to rise further owing to its increasing use in lithium ion batteries for EVs, laptops, personal computers smartphones, polyester and tyres
