Business & Finance

Reuters exclusively reports Swiss-based trader Telf to sell ERG’s cobalt in 3-yr deal

Reuters reported exclusively that Swiss-based commodity trader Telf AG will sell cobalt produced by Eurasian Resources Group’s operation in the Democratic Republic of Congo, equivalent to 10% of global supply in 2021. Under the deal, expected to run from 2021 to 2023, Telf will market 18,000 tonnes of cobalt for ERG this year – worth some $657 million at London Metal Exchange prices. Cobalt is a major focus for metals markets due to expected accelerating demand in coming years as governments and consumers clamp down on fossil fuels such as diesel and gasoline with targets for cutting emissions.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & Energy
Regions: AfricaEurope
Countries: EnglandSouth Africa
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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