“Apple may be cutting out the middleman in its acquisitions of cobalt, the glittery blueish-gray mineral that’s essential for the iPhone and iPad’s lithium-ion batteries, Bloomberg reports,” Aaron Mak writes for Slate. “Rather than entrusting its battery-suppliers with the cobalt purchases, Apple is for the first time considering deals to buy several thousand metric tons of the mineral straight from miners annually for at least the next five years.”

“Why are battery components and how Apple buys them interesting? Because both tell us a lot about the growth in an another area of the technology industry: electric vehicles,” Mak writes. “Apple is concerned that the burgeoning EV market threatens to consume a large percentage of yearly cobalt production. Fears that car manufacturers will elbow in on the market partly stems from the fact that, while phone batteries only require eight grams of cobalt, electric car batteries require more than a thousand times more. The coming EV boom may leave little for smartphone production, which currently uses a quarter of the world’s annual supply.”

Read more in the full article here.

MacDailyNews Take: Which leads us to our next question, which you might also share, so start here:

Cobalt Stocks: What Investors Need to Know – Maxx Chatsko, The Motley Fool, February 21, 2018

SEE ALSO:
Apple in talks to buy cobalt directly from miners – February 21, 2018
Apple promises to one day stop mining minerals to make iPhones – April 20, 2017
Apple continues supply chain transparency as Trump administration considers suspending conflict mineral requirements – March 27, 2017
Apple takes groundbreaking steps to combat deadly trade in conflict minerals – April 1, 2016
Apple says they’re making progress eliminating conflict minerals – February 12, 2015
Where Apple gets the tantalum for your iPhone – February 5, 2015
Greenpeace praises Apple for reducing use of conflict minerals – February 13, 2014
Apple confirms suppliers use conflict-free minerals – February 13, 2014