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.

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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