An attempt by one of the world’s biggest carmakers to secure long-term supplies of cobalt for its push into electric vehicles has been shunned by leading producers of the metal.
Volkswagen issued a tender last month seeking a minimum of five years of supply at a fixed price, according to people familiar with the process, but struggled to find any takers.
The carmaker put off miners by suggesting a price that was well below current market prices, which have jumped by more than 80 per cent this year, the people said.
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