Curious comment in this Korean article from a couple of days ago:
"SK Innovation enters into long-term supply contract with Australian company
SK Innovation has set up a "long-term supply contract" with companies in 'Blue Ocean' in Australia as a solution.
In February, SK Innovation signed a supply agreement with Australian Mines Limited (AM), a battery material producer in Australia, for up to 13 years for 12,000 tons of cobalt sulfate and 60,000 tons of nickel sulfate. We also secured exclusive rights to negotiate equity investments in the future.
In particular, AM achieved the process efficiency by taking on the sulfation process, which is an intermediate process. In the past, imports of metal that had not undergone the sulfation process were further processed in China.
The company has 15% of the world's reserves, but its production is only 5%, so the long term prospects are bright as it has dominated the Australian market, which is considered to be the blue ocean of the cobalt market.
An official of SK Innovation said, "We have reduced the instability of supply of core raw materials through long-term contracts," he said.
https://translate.google.com.au/tra...news&act=articleView&idxno=273138&prev=search
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