Glencore and General Motors Co. today signed a multi-year sourcing deal under which Glencore will supply GM with cobalt from its Murrin Murrin mine in Australia.
The cobalt processed in Australia will be used in GM’s Ultium battery cathodes, which will power electric vehicles such as the Chevrolet Silverado EV, GMC HUMMER EV, and Cadillac LYRIQ.
Ash Lazenby, Glencore US Cobalt Marketer and Trader, said the company was delighted to support General Motors in delivering its electric vehicle strategy.
“Future facing commodities like cobalt play a pivotal role in decarbonising energy consumption and the electric vehicle revolution,” he continued.
“Glencore is already a leading producer, recycler and supplier of these commodities, which underpin our own ambition of achieving net zero total emissions by 2050.”
Cobalt is a rare metal that only makes up 0.001% of the earth’s crust. It is added to lithium-ion battery cathodes to boost energy density and battery longevity and is noted for its heat-resistant qualities.
GM, which aims to manufacture 1 million electric vehicles in North America by the end of 2025, has recently launched a number of initiatives to develop a new and more secure EV supply chain.
These initiatives are focused on developing critical EV materials and components such as cathode active material (CAM), lithium, rare earth materials, alloy flakes, and permanent magnets.
