Hyperdrive
Apple in Talks to Buy Cobalt Directly From Miners
- iPhone maker is one of the largest end users of the metal
- Cobalt is a key ingredient in mobile phone batteries
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Apple Inc. is in talks to buy long-term supplies of cobalt directly from miners for the first time, according to people familiar with the matter, seeking to ensure it will have enough of the key battery ingredient amid industry fears of a shortage driven by the electric vehicle boom.
The iPhone maker is one of the world’s largest end users of cobalt for the batteries in its gadgets, but until now it has left the business of buying the metal to the companies that make its batteries.