General Motors has secured a significant supply of cobalt after signing a multi-year cobalt sourcing agreement with Glencore. The mining giant will supply the rare metal to GM from its Murrin Murrin operation in Australia.
Cobalt is an important metal in the production of EV batteries, and the cobalt processed from Australia will be used in GM's Ultium battery cathodes. Ultium batteries are used to power electric vehicles such as the GMC HUMMER EV, Cadillac Lyriq, and Chevrolet Silverado EV.
