Cobalt has become a much sought after metal and is also used in iPhones and laptops.
Cobalt prices hit record highs of $92,500 per pound last year as people’s insatiable appetite for tech products grows around the globe. Prices have since eased off.
But cobalt mining has become a source of controversy, particularly in Democratic Republic of Congo where three quarters of the world’s supply comes from and where is it is often mined illegally.
Tesla has said it will support sourcing of the metal from the DRC if it can be assured raw materials are coming from operations that meet social and environmental standards.
