Tuesday, 24 April, 2018

Apple reportedly buying long-term supplies of cobalt directly from miners

Apple is one of the world’s largest end users of cobalt for the batteries in its gadgets Apple is one of the world’s largest end users of cobalt for the batteries in its gadgets
Derrick Tucker | 22 February, 2018, 00:44

Now it seems that Apple is concerned that the prices of Cobalt are getting out of hand and it is seeking contracts to buy several thousand metric tons of cobalt for five years or longer.

Bloomberg's source reported that Apple may not actually go ahead with a deal, as the parties involved are still only in the discussion phase.

"We're not sure whether (Apple) want to buy the cobalt for the battery makers that supply them or whether they are planning to stand behind the cobalt supply chain as guarantors", a cobalt industry source said. Auto makers like BMW and Volkswagen are also looking to ink multi-year deals that would secure a constant flow of the rare metal. An electric auto battery uses one thousand times more refined cobalt than a smartphone does, therefore meaning that it's actually the automobile industry which is taking up cobalt supplies. Apple has been trying to end child labor in mines that produce cobalt for the company and said it is working with non-government entities (NGOs) in the country to stop it. As it stands it has been estimated that a quarter of all cobalt production is used for smartphones, but that could change in the future.

The move to get more supplies of cobalt means the technology giant will find itself in competition with electric carmakers and battery producers to lock up cobalt supplies.

But Apple declined to comment.

Lucky Charms Upgrades to 'Magical Unicorn' Marshmallows
The unicorn now will take its place among seven other shapes: heart, star, horseshoe, clover, blue moon, rainbow and balloon. Last year, the company offered 10,000 boxes of a marshmallow only version of the cereal, to anyone who found a special code.

Samsung to cut OLED panel production on low iPhone X demand
Apple typically retains the ability to buy older models, and even the iPhone 6S can be purchased from 2014 on the website. But the company is still expected to see a profit decline for the first half of the year, compared to 2017.

Ricciardo crashed new Red Bull on filming day
While we still do not get to see the actual livery for 2018 on the RB14, the shape and form will very much remain as we see here. Dubbed as the RB14, the new F1 vehicle will have Daniel Ricciardo and Max Verstappen back in the seat for the latest season.

The cobalt Apple uses at the moment comes from Congo and it does get a lost of criticism because the labour used in such mines suffer from appalling conditions and use child labour.

So far, no major deals have been announced, although BMW's head of procurement told German daily newspaper Frankfurter Allgemeine Zeitung in early February that it was close to securing a 10-year supply deal.

Cobalt is now on the market for over $80,000 per metric ton and has more than doubled in price since 2016.

Ivan Glasenberg, the chief executive at mining firm Glencore, said late past year that Apple was among several companies that the Anglo-Swiss enterprise was talking to about cobalt, without giving further details. Apple has been in the talks with miners for more than a year. In the past, the company is reported to have unwittingly bought batteries containing cobalt mined using child labor. Much of that bumper 44% dividend payout is due to the spike in cobalt, which saw a 108% increase on the average price, from $12 a pound to around $25 a pound a year ago alone.

Recommended

  • Singapore Budget 2018: Singapore unveils targeted budget for sustainable growth

    Singapore Budget 2018: Singapore unveils targeted budget for sustainable growth

    In a surprise announcement, Mr Heng said the top marginal Buyer's Stamp Duty (BSD) will increase from 3 per cent to 4 per cent. The overall budget deficit for the 2018/19 fiscal year starting on April 1 is expected to be S$600 million, Heng said.
    Romney talks gun violence in Utah GOP speech

    Romney talks gun violence in Utah GOP speech

    Romney said last week he generally approved of Trump's agenda, but would not hesitate to call out the president if needed. Romney later said that he would have rejected Donald Trump's 2012 endorsement if he said similar things in public.
    Virat Kohli says he don't feel like competing with anyone

    Virat Kohli says he don't feel like competing with anyone

    Proteas stand-in captain Aiden Markram acknowledged after the match that Kohli had been vast for his side throughout the series. Not only did we win the series but Virat's performance too won our hearts for the man scored a whopping 129 runs off 96 balls.
  • Roger Federer victory makes him the oldest No 1

    Roger Federer victory makes him the oldest No 1

    To think just 13 months ago, when Federer returned from a knee injury, he faced an uncertain future with many writing him off. India's Yuki Bhambri could have breached the top-100 chart but he finished second-best at the ATP Challenger in Chennai.
    Nicolas Maduro reaches out to Donald Trump on twitter

    Nicolas Maduro reaches out to Donald Trump on twitter

    Venezuelan President Nicolas Maduro addresses a news conference at the Miraflores Presidential Palace in Caracas last week. A White House statement then said: "Today, Nicolas Maduro requested a phone call with President Donald J.
    Nuance is discontinuing its Swype keyboard for Android and iOS

    Nuance is discontinuing its Swype keyboard for Android and iOS

    Swype for Android arrived on the Play Store in 2013, developed by the same company behind the "Dragon" natural speaking software. Among the established alternatives is Swype, which has been available for almost five years on Android and over three on iOS.
  • Govt Denies Perceived Snub To Canada PM Justin Trudeau

    Govt Denies Perceived Snub To Canada PM Justin Trudeau

    Canadian journalists travelling with Trudeau have also asked him about the response he received from the Indian government. Justin Trudeau was born on December 25, 1971, to the late Canadian Prime Minister Pierre Trudeau and his wife, Margaret.
    Crude oil tug of war on, USA  rig count may spoil party

    Crude oil tug of war on, USA rig count may spoil party

    Oil is struggling to regain the highs of January after a sell-off in global equities seeped into crude markets earlier this month. Saudi Arabia has been lobbying to keep prices high by instigating a production cut for both OPEC and non-OPEC partner countries.
    Red Sox Sign JD Martinez to 5-Year Deal

    Red Sox Sign JD Martinez to 5-Year Deal

    He had 29 homers and 65 RBIs in 62 games with the Diamondbacks , and hit a record-tying four home runs in a game. Martinez turned 30 years old last August, but 2017 was undoubtedly the best year of his career.
  • Porsche 911 GT3 RS breaks cover

    Porsche 911 GT3 RS breaks cover

    The automaker unveiled the 2019 911 GT3 RS , which Porsche calls the most powerful naturally aspirated series-production 911 ever. A seven-speed dual-clutch puts the power down to the wheels, but don't expect a manual transmission in this auto - ever.
    Full FA Cup quarter-final draw: Man Utd host Brighton

    Full FA Cup quarter-final draw: Man Utd host Brighton

    It is interesting to note that the men from Manchester have already lost at the John Smiths this season in the Premier League. League One sides Oldham and MK Dons also got as far as the fifth round but were beaten by Everton and Barnsley respectively.
    Bad weather hampers search for missing Iranian plane

    Bad weather hampers search for missing Iranian plane

    The United Nations said Secretary-General Antonio Guterres joined world leaders in expressing sorrow over the crash. The organization specialized in flights to remote airfields across the country as well as internationally.

Northwest High School receives second threat this week, police take precautions Northwest High School receives second threat this week, police take precautions They declined to identify all of the schools because none of the threats were valid, and to do so could spark unnecessary fear. Additional police officers will be monitoring the high school on Wednesday when classes resume following mid-winter break.

USA crushes Slovakia to move on to quarter-finals in men's hockey USA  crushes Slovakia to move on to quarter-finals in men's hockey Troy Terry , a 20-year-old Anaheim Ducks prospect who played at the University of Denver, dished three assists, all beauties. Olympian and the head men's hockey coach at Harvard looking on, Ryan Donato literally set the U.S.

Rays trade Souza Jr. to D-Backs Rays trade Souza Jr. to D-Backs To make room on their 40-man roster for Drury, the Yankees designated outfielder Jabari Blash for assignment. Souza was also more than a four-win player last season and he plays above-average defense in right field.

Home Depot Trumpets Q4 Earnings, Sales Home Depot Trumpets Q4 Earnings, Sales This repurchase authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Home Depot Inc .is now heading into its busy spring season and recently said that it would hire over 80,000 seasonal workers.

Vonn's best chance at gold coming up in Olympic downhill Vonn's best chance at gold coming up in Olympic downhill Needing a win to avoid elimination, the USA men's hockey team delivered with a 5-1 victory over Slovakia on Tuesday. Three second-period goals helped the United States advance to the quarterfinals, defeating Slovakia 5-1 Tuesday.

Trump claims he's never met accuser who says he forcibly kissed her Trump claims he's never met accuser who says he forcibly kissed her In fact, The Hill reported that attorney Lisa Bloom, who represented a few of the women who accused Mr. I just want people to listen. "What will it take to get a response", she was quoted as saying.

Gold in bobsled, women's hockey advance to final Gold in bobsled, women's hockey advance to final Canada players salute the crowd after their win over the Olympic Athletes from Russian Federation in the Olympic semifinals. Finland has won two bronze medals in women's hockey (1998 and 2010).

West Brom players accused of stealing taxi in Spain West Brom players accused of stealing taxi in Spain I feel let down by that". "We don't think it's a very serious one but it's probably serious enough to keep him out of the next two games".

WWE Raw: Gutsy performances by the top superstar to break this record WWE Raw: Gutsy performances by the top superstar to break this record Braun Strowman came out on top in this week's gauntlet matchWhat's the story? Braun Strowman beat The Miz on WWE Raw . Rollins and Reigns held nothing back against each other despite their friendship and gave the match their all.

Karnataka Youth Congress leader Mohammad Harris Nalapad surrenders after 36 hours Karnataka Youth Congress leader Mohammad Harris Nalapad surrenders after 36 hours Local inspector Vijay Hadagali was suspended by additional commissioner (west) on Sunday for failing to nab the MLA's son. Chief Minister Siddaramaiah said the law must take its course and the police must bring to book whoever is guilty.

Nearly 100 killed in single day of strikes near Syrian capital Nearly  100 killed in single day of strikes near Syrian capital They say they have used the presence of a few hundred fighters from al Qaeda's former Syria branch as a pretext to attack the enclave.

Celebrating George Washington's birthday with free cake Celebrating George Washington's birthday with free cake Others, meanwhile, also pay homage to Republican icon and late president Ronald Reagan - who was born on February 6, 1911. President George Washington's birthday continue to also be celebrated on February 12 and February 22, respectively.

USA's Mirai Nagasu lands historic triple axel in PyeongChang USA's Mirai Nagasu lands historic triple axel in PyeongChang Following Nagasu's free skate, the US brother-and-sister duo of Maia and Alex Shibutani finished second in the free dance. "It's definitely a very different experience, I'm much older", she noted over being at a second Olympics .

Zainab Ansari Case: Serial Killer of Kasur Given Four Death Sentences Zainab Ansari Case: Serial Killer of Kasur Given Four Death Sentences During the search, DNA test was conducted on more 1,100 people living in the vicinity. Zainab was kidnapped from near her aunt's house in Kasur on January 4.

IDF forces strike Hamas targets, no rockets fired on Israel IDF forces strike Hamas targets, no rockets fired on Israel Netanyahu will visit the White House next month, a senior United States administration official told AFP on Friday. Israeli media said it was the highest number of Israelis wounded in a single incident since the 2014 Gaza war.