Materials
Move would diversify supply chain of metal important for making EV batteries
Most of the world’s cobalt comes from Congo. Japan’s Mitsubishi Materials aims to introduce a new production method at a Chilean copper mine. © Reuters
TOKYO — Japan’s Mitsubishi Materials aims to become a producer of cobalt with a new operation in Chile that would diversify the supply of a metal vital to electric vehicles, Nikkei has learned.
The company will begin testing a production method in fiscal 2023 that seeks to extract cobalt at economically viable levels from even low-grade ore. It has a target of achieving commercial production in fiscal 2027.
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