Bloomberg Article mentions American Manganese Inc. – Samsung SDI Turns to Used Phones for Cobalt as Prices Surge
Samsung SDI Co., a battery supplier to carmakers including BMW, plans to recycle cobalt from used mobile phones as companies around the world scramble to secure supplies of the metal amid surging prices.
The plan fuels a trend among battery makers to reduce dependence on the Democratic Republic of Congo as a source of cobalt. The African country — plagued by decades of corruption, violence and even child labor — produces more than half of the world’s supplies. Rising demand amid the electric-vehicle boom and a lack of major alternative sources has seen prices more than triple since the start of 2016.
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