tinyfav.com April 21, 2018

Apple believed to be trying to deal with cobalt miners

22 February 2018, 12:45 | Hattie Nash

Apple CEO Tim Cook is moving to secure long-term supplies of raw materials for batteries

Tim Cook

Apple is rumoured to be buying long-term supplies of cobalt directly from miners for the first time, according to Bloomberg, in a bid to secure long-term supplies - possibly for an electric vehicle project.

If there is a shortage, Apple will have nothing to fear because it would have already secured a hefty supply of the element in the first place.

Apple said last March it would stop buying cobalt mined by hand in the Congo following reports of child labor and risky work conditions. Any phone company that needs lithium-ion batteries is ultimately sourcing much of its cobalt from the DRC.

Cobalt is an essential ingredient in lithium-ion batteries for smartphones. Other companies like BMW, Volkswagen, and Samsung are also aiming to secure multi-year contracts for supplies of the raw material to produce electric vehicles.

Did Modi govt snub Canada PM Trudeau?
He had reportedly cited Sajjan's links with supporters of the Khalistan movement-an allegation Sajjan denies. Prime Minister Justin Trudeau arrived in India on Saturday for an official trip filled with activities.

Apple Releases iOS, macOS Fixes For Telugu 'Text Bomb' Bug
In terms of the software release timeline, this is iOS 11 .2.6, the 11th update to the latest version of the operating system . However, Apple is determined to fix this problem before the public version of the iOS 11.3 goes live this Spring.

Kremlin dismisses Washington allegation on 2016 election meddling
Why? They also stole the identities of US citizens to purchase advertisements on social media sites and contact other Americans. Obama did take action against the Kremlin, imposing strong sanctions and expelling 35 diplomats from the U.S.in December 2016.

Also, it is unclear if the African country's cobalt supply will last long enough to match California's and other US states' ambitions to replace diesel-powered vehicles with electric ones. Over the past eighteen months, the price of cobalt has tripled to more than $80,000 a metric ton.

Apple may end up deciding not to go ahead with a deal, the report said, citing another source. Glencore, the mining multinational that operates in about 50 countries, has named Apple as one of the main customers it was talking to about cobalt, according to Bloomberg. "There's absolutely no excuse for anyone under legal working age to be in our supply chain", the company said in its most recent Supplier Responsibility Progress Report.

The London Metal Exchange (LME), the world's biggest market for industrial metals, has also stepped up efforts to make sure that cobalt mined by child labour doesn't trade on the exchange, following several reports indicating that minors are being exploited to extract the coveted mineral. Much of that bumper 44% dividend payout is due to the spike in cobalt, which saw a 108% increase on the average price, from $12 a pound to around $25 a pound past year alone. About 60 percent of the world's cobalt supply comes from the Democratic Republic of the Congo, and about 20 percent of it is mined by hand by children, Amnesty International reported in 2016.

Other News

Trending Now

West Brom's Salomon Rondon Scores A Beautiful Volley In Southampton Defeat
Regarding that, Pardew said on Friday: "Of course, they are good people and I was disappointed if I'm honest". I'm confident that we are going to put performances (together) that give us the chance to do that".

Turkish court rules for Deniz YĆ¼cel's release as it accepts terror indictment
The six sentenced journalists are Nazli Ilicak, Ahmet Altan, Mehmet Altan, Fevzi Yazici, Yakup Simsek and Sukru Tugrul Ozsengul. The defendants were charged with attempts against Turkey's constitution and membership in a terror organization.

Geniuses at Apple Are Routinely Walking Into Glass Doors
Place thousands of people distracted by iPhones in a building that is mostly transparent, and perhaps the results are inevitable. The 13,000 or so employees who work in the building have to closely watch where they are going, Fortune reports .

India, Iran hold 'substantive' talks, sign nine pacts
The two sides are now determined to protect and even broaden the scope of such historical relations, President Rouhani said. The Iranian leader also said that regional conflicts must be resolved through diplomacy and political initiatives.

Winter Olympics: Ice dancer endures 'nightmare' as dress comes undone
French figure skater Gabriella Papadakis described this unfortunate wardrobe malfunction as her 'worst nightmare at the Olympics'. Despite the distraction, the French pair managed to finish within two points of Canadian leaders Tessa Virtue and Scott Moir.

Trump moves to relax rules on cheaper health insurance
In response, health insurers would be expected to raise their premiums or exit the market altogether. Renewability is crucial if the Trump Administration wants these options to function as a market.

Tripura Assembly Elections: State witnesses 78% turnout
Prime Minister Narendra Modi and BJP chief Amit Shah spearheaded the BJP-IPFT challenge in one of the last bastions of the Left. While Sarkar has been the chief minister of the state since 1998, his party the CPI-M has been in power in Tripura since 1993.

Israeli PM Netanyahu's warning for Tehran
Netanyahu had also told the conference: "We will act if necessary not just against Iran's proxies but against Iran itself". Mr Zarif suggested Mr Netanyahu might be escalating tensions with Iran simply to distract from his domestic problems .

Olympics Luge Women's Final live stream, start time, TV channel
The announcement was made today by Christopher Adams, VP of Venue Engineering, NBC Olympics , and Glen Levine, President, NEP U.S. The night's numbers also formed part of a 17 percent decline in ratings for NBC for this year's games over those in Sochi.

Bayliss: T20 cricket should only be played domestically
New Zealand beat England by 12 runs when they met earlier in the week setting up an all-or-nothing showdown on Sunday. Australia have already qualified for the final in Auckland on 21 February having won all four of their group games.