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Battery Boom Drives Vale to Sign Major Cobalt Deal

Video Credit: Bloomberg Global Business - Duration: 02:02s - Published < > Embed
News video: Battery Boom Drives Vale to Sign Major Cobalt Deal

Jun.14 -- Vale SA reached agreements to sell future cobalt production in what may set a benchmark for automakers, battery makers and tech companies looking to secure long-term supplies of the metal.

A $690 million upfront payment is one of the largest ever cobalt streaming arrangements and the first large-scale, long-term deal to be signed since expectations of an electric-vehicle revolution triggered a battery commodity boom.

Bloomberg's R.T.

Watson talks with Bloomberg's Alix Steel about the deal.


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