Apple could be buying cobalt from mining companies directly


Cobalt is the new oil. Car companies and battery manufacturers are all rushing to secure multiyear contracts with mining companies for their lithium-ion batteries. According to a Bloomberg report, Apple is also participating in this game as the company wants to secure its long-term supplies.

The company has never done this before with cobalt. Apple relies on a ton of suppliers for all the components in its devices — including for batteries. And yet, cobalt prices have tripled over the past 18 months. Chances are Apple will secure a contract much more easily than a battery supplier.

While an Apple Watch battery is an order of magnitude smaller than a car battery, Apple sells hundreds of millions of devices every year. All those iPhone and Mac batteries represent quite a bit of…

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