Glencore Enters Five-Year Deal to Supply GEM Co. With Cobalt Hydroxide
October 07 2019 - 7:03AM
Dow Jones News
By Oliver Griffin
Glencore PLC (GLEN.LN) on Monday said it has entered a new
five-year agreement to supply GEM Co. Ltd. (002340.SZ) with cobalt
hydroxide.
The Anglo-Swiss miner and commodities trader said that under the
terms of the deal it will supply a minimum of 61,200 metric tons a
year of cobalt to GEM, a Shenzen-listed battery-metals company,
between 2020 and 2024.
Nico Paraskevas, Glencore's head of marketing for copper and
cobalt, said the partnership will provide the company with a stable
outlet for a "significant portion" of its expected future cobalt
hydroxide production.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
October 07, 2019 06:48 ET (10:48 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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