News Wrap

IN today's News Wrap: Glencore's talks to sell cobalt to Chinese firm falter on price; Rinehart's children join rich list; and mining arm of Steinmetz business empire falls into administration.

News Wrap News Wrap News Wrap News Wrap News Wrap

Glencore's talks to sell cobalt to Chinese firm falter on price

Glencore is in talks to sell around a quarter of its cobalt output in a one-year deal to Chinese firm GEM, but price is a sticking point as Glencore and other major producers are now able to exert more influence in negotiations, Reuters cited sources as saying.

One source close to the matter said GEM had not yet signed a contract for this year with Glencore, which was offering a price with a fixed instead of a percentage discount to the monthly average from trade publication Metal Bulletin.

“Volume and price are still under discussion,” the source said, adding volumes being discussed for 2018 were “more than 10,000 tonnes”, which is bigger than last year’s one-year contract of “less than 1...

topics

loader