On Aug. 6, Glencore announced plans to close its Mutanda mine in the Democratic Republic of Congo by the end of this year.

In Slide 33 for its recent conference call, Glencore explained that Mutanda will produce 25,000 tonnes of cobalt this year, followed by two years in care and maintenance mode.



In its 2018-2019 Cobalt Market Review, Darton Commodities forecast total global supply of 140,000 tonnes in 2020 vs. total global demand of 132,000 tonnes.

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The Mutanda mine closure will immediately shift the cobalt supply and demand balance from a comfortable 4,000-tonne surplus to a crushing 19,000-tonne deficit.

Since batteries for electric cars and stationary energy storage products require enormous amounts of cobalt, the Mutanda closure could be a crippling if not fatal blow for Tesla.

It's impossible to make the NCA batteries Tesla (TSLA) uses in its electric vehicles or the NCM batteries Tesla uses in its stationary energy storage products without cobalt. If the Mutanda mine is

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