Apple to Buy Cobalt, Rare Earth Metal Directly From Miners

Cobalt Rising Demand 

It's very well known the electrified vehicles, electric batteries are using cobalt and many more rare earth metals which used to make batteries and motors and other components of vehicles and electronic products. As per Bloomberg analysis, Apple is seeking contracts to secure a thousand metric tons of cobalt in the coming years, and predicting the price of cobalt usage will rise to more than 300,000 tons by 2030 with the rapid innovation in lithium-ion batteries.

Apple isn't the only organization trying to secure the contracts with the suppliers to keep the supply chain is well managed and delivering products on time without making the customers unhappy about the service. BMW, Volkswagen, Samsung on a rapid run to secure cobalt contracts and other metal contracts from the suppliers as per the mining company's stock prices and insider information got out.

Source - Bloomberg