| Cobalt, as we reported previously, is the secret ingredient in lithium ion batteries. Battery-electric vehicles like Tesla’s contain approximately 50kg, or about 10% of the total battery weight, in every car. As we had anticipated, the price of cobalt went up by more than 20% over the past six months (from around $10.80/lb to now $13.40/lb).
In addition to an increase in demand, recent reports of unsafe conditions and child labor emerged in a report by Amnesty International, shocking a customer base with firm environmental and ethical values..........................................Full Article: Source
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