Under the deal, South Korean battery maker LG Chem will raise a total of US$224.8 million to build precursor and cathode plants in China.
Top cobalt producer Glencore will sell a third of its cobalt production to Chinese battery recycler GEM over the next three years.
Toronto-listed First Cobalt has acquired US Cobalt in an all-share deal valued at C$149.9 million. The deal is expected to close in May.
Samsung C&T, an affiliate of smartphone maker Samsung, has approached Somika to buy cobalt produced at its Kisanfu mine in the DRC.
Political instability and human rights issues in the DRC are challenging the battery industry to find more secure cobalt sources.
Modern technology is transforming the way lithium is sourced for the electric vehicle revolution.
Top lithium producer FMC is planning to sell off around 15 percent of its lithium business in a $500-million initial public offering.
Cathode formula changes will not disrupt cobalt’s prominence in the electric vehicle revolution and lithium-ion battery chemical mix.
The deal is valued at $70 million, and is for a 1.75-percent net smelter return royalty on output from the Quebec-based mine.
Facing increasing demand from the growing electric vehicle market, producers are turning to hard rock lithium to develop battery-grade lithium supply.