Cobalt Rally Risks Pushing Away Battery Makers, Top Miner Says

The rising price of cobalt, driven by export limits in the Democratic Republic of Congo, is causing concern among battery makers. An executive from the largest cobalt mining company warns that if prices continue to soar, manufacturers may accelerate their shift away from cobalt altogether. This shift could have significant implications for the battery industry, as cobalt is a key component in many batteries, and its scarcity could lead to increased production costs and supply chain challenges.