Japan’s automakers aim to set up a Joint Procurement Body by end-March [2019] to secure stable supplies of cobalt:
The Joint Procurement Body will try to secure supplies through signing long-term contracts with existing global suppliers or investing in new development projects with financial support coming from the Japanese Government.
However, Japanese trading houses and mining companies, in general, are hesitant to make major investments in cobalt projects due also to risks that the mineral may not be needed if battery technology develops to provide alternatives.
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