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Glencore, the world’s largest cobalt producer, introduced that it could’t fulfill its supply commitments for cobalt hydroxide out of the Democratic Republic of Congo, resulting from extreme flooding within the South African port metropolis of Durban. The vast majority of cobalt exports from the DRC depart the continent through Durban. Rail strains and logistics services on the port have been broken by unprecedented rainfall, which additionally killed about 450 folks.
The Swiss mining firm declared power majeure due to these port disruptions, reasonably than resulting from any manufacturing points within the DRC. The port is a hyperlink within the international cobalt provide chain, which is essential to creating electrical car batteries. Most cobalt exports from the DRC (together with that produced by Glencore) are exported to China, which homes nearly all of the world’s refining capability.
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