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Africa: Samsung in talks for multi-year cobalt deal from Congo

By  |  March 14, 2018
Africa: Samsung in talks for multi-year cobalt deal from Congo

According to a new report from Bloomberg, Samsung has joined Apple in taking an unprecedented step to secure cobalt supplies for its next-generation smartphones. Samsung C&T, one of the many arms of the Samsung conglomerate, is reportedly negotiating directly with a mine in the Democratic Republic of Congo to secure cobalt.

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    The element is an important component in the rechargeable batteries used in smartphones, but increasing competition, particularly from electric car manufacturers, has made an already-scarce element even more valuable.

    The report on Samsung’s activities follows news last month that Apple was also in negotiations with a miner to secure cobalt supplies. Samsung’s case makes a little more sense, the firm manufactures some batteries in-house, whereas Apple contracts out all battery manufacturing, but it’s still an unusual move for Samsung to go directly to the miners.

    Full Content: Bloomberg

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