Citing "people familiar with the matter", the report said the Cupertino giant is looking into buying more cobalt to ensure it will have enough of the key battery ingredient, in a move that sounds like it's scared its all going to run out.
Australian Mines has just agreed a A$5bn ($3.9bn) deal for cobalt and nickel with South Korean refiner SK Innovation, which has agreed to buy all the company's output for up to 13 years, according to a filing.
Sources claiming knowledge of the deal say that Apple wants to sign contracts that would secure several thousand metric tons of cobalt per year for five years or longer. One source told Bloomberg that the iPhone maker first started the discussion on the cobalt deals past year, but that there are chances that talks may not go anywhere right now. By securing their cobalt supply, Apple is doing what big manufacturers have done for years.
Purdue's Vincent Edwards will miss Penn State game with ankle injury
The Nittany Lions can get back on the right track Wednesday against No. 17 MI in a game airing on the Big Ten Network at 7 p.m. The release classified Edwards' status as "questionable" for next week's final regular-season games against IL and Minnesota.
Electric cars in particular are expected to see global demand for cobalt more than double by 2025, and more than quadruple by 2030.
Apple is one of the world's largest end users of cobalt for the batteries in its gadgets, but until now it has left the business of buying the metal to the companies that make its batteries.
Some materials companies are working on ways to recover and recycle cobalt from old and faulty batteries as alternatives to mining new supplies.
Special Counsel Mueller Unveils New Indictment in Russia Probe
Manafort and Gates are accused of directing a covert Washington lobbying campaign on behalf of pro-Russian Ukrainian interests. Prosecutors have alleged that Manafort and Gates used an offshore account to secretly pay $4 million for the report.
Apple has not responded to an Observer request for comment. Bloomberg notes that Cobalt prices have soared from a little over $20,000 per metric ton back in September 2016 to $80,000 per metric ton right now.
Further complicating matters, Apple and Samsung have both been put under scrutiny for procuring cobalt from mines where child labor was found to have been used. That will stress the world's supply of cobalt, and that reality is reflected in the current price.
Rights group Amnesty International said previous year about a fifth of Congo's cobalt production is mined by hand by informal miners including children, often in risky conditions.
Two Netanyahu associates accused of paying media outlets for favourable coverage
Former journalists at the Walla news site have attested to being pressured to refrain from negative reporting of Netanyahu. Netanyahu has denied all charges.
Glencore Plc Chief Executive Officer Ivan Glasenberg late past year named Apple among several companies the miner was talking to about cobalt, without giving further details.