Cobalt upstarts eye Glencore's turf in electric car market

Melbourne

THE race is on to supply more of the cobalt needed for batteries in the fast-growing market for electric vehicles - and that means fresh competition for the big players Glencore plc and the Democratic Republic of Congo.

A pipeline of projects is looming in places including Australia, the US and Canada after cobalt prices more than doubled in the past year. Glencore produces almost a third of the world's supply, mainly from the Congo, which is by far the biggest source, accounting for as much as 65 per cent.