Posted on 08/08/2019 5:27:20 PM PDT by ImJustAnotherOkie
On Aug. 6, Glencore (OTCPK:GLCNF) unexpectedly announced plans to close its Mutanda mine in the DRC by the end of this year. In Slide 33 for its recent half-year conference call, Glencore explained that Mutanda’s economic oxide ore reserves will be exhausted by year-end. It also explained that further work would be required to assess the economic and technical feasibility of known sulphide ore deposits that could extend mine life for another 20 years. Accordingly, Glencore plans to keep Mutanda in care and maintenance mode for at least two years.
(Excerpt) Read more at seekingalpha.com ...
Sustainable.
I’m sure everything is built from sustainable materials.
Too bad. Tesla won’t be able to enslave poor Congolese child laborers or cause the rape of the African environment or the slaughter of endangered species. Good times just don’t last, do they?
Is this what caused Tesla’s stock to take a 10% hit two weeks ago?.
The Chicoms probably have the Congo Cobalt under their thumb.
*ping*
A report from German business newspaper Wirtschaftswoche has determined that Tesla’s batteries for the Model 3 have over four times less cobalt compared to those used by Volkswagen today, highlighting the long road ahead for traditional auto as it starts its shift towards electric vehicles.
Frank Blome, Head of the Center of Excellence for Battery Cells at Volkswagen, noted to the publication that the batteries for the Volkswagen I.D.3 (a car formerly dubbed the ID Neo) contain 12-14% cobalt. In comparison, Tesla has succeeded in reducing the cobalt content of the Model 3’s batteries to just 2.8% as of last year. Tesla has continued its battery research since then, hinting at even lower cobalt levels in the present iterations of its electric sedan.
https://www.teslarati.com/tesla-model-3-batteries-cobalt-volkswagen/
No. That was a combination of their earnings report and profit taking since the stock was up quite a bit since the end of May.
“This is Huge..Huge..Huge for the EV business.”
Don’t put money on it. Every time Tesla and the country that is stuck with the company is about to run out of raw materials, the entire issue always tends to quickly ‘disappear’.
Tesla cannot afford any increase in raw materials. The model 3 is low margin enough.
Batteries and electronics are all Tesla has. Certainly not Musk’s honesty.
I say Musk will let it dwindle and someone will get it all for less than $25 per share.
I get the impression that your opinions about Tesla and Elon Musk aren’t to be taken seriously.
Only fanbois disagree. Tesla is an abomination to automobiles, then again so is FCA, Nissan, and Renault, and General Motors to name a few.
Tesla stands apart however with they abysmal quality and business practices. All they can brag about is their 0-60 times.
Like I said, you aren’t to be taken seriously.
Disprove anything I said.
Disprove anything I said.
“All they can brag about is their 0-60 times.”
...
They can also brag about handling among other things.
They have an excellent handling because of the Low CG and good suspension components. Their electronics are space age. Problem is it has to be backed up by software, and that is exactly what has ruined automobiles.
If Tesla decides to, it can Brick your car in a heart beat. Is that what you want in a car you paid for?
Despite anything Tesla makes, their Growth is over and that growth is what fueled the ridiculous stock price.
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