China’s state stockpiling agency has drawn up plans to buy 2 000 tons of cobalt after the coronavirus pandemic highlighted the fragility of supplies of the strategic mineral.
The National Food and Strategic Reserves Administration could put its purchasing plan into action by the end of this year, according to two people familiar with the matter, who asked not to be identified because they’re not authoriSed to speak publicly. The move is in response to supply disruptions from top producer, the Democratic Republic of Congo, and is in line with China’s future economic and strategic needs, the people said.