Soaring cobalt prices threaten smartphones industry worldwideJanuary 15, 2018 - 12:09 AMT PanARMENIAN.Net - The production of electric cars, smartphones and high-tech gadgets could be in jeopardy as a result of a rapid rise in prices for cobalt, RT says. Cobalt is a critical metal for Lithium-ion batteries, whose price jumped from $33,200 to $75,000 per ton in a single year. The situation is further complicated by the fact that the main supplier of cobalt - the Democratic Republic of the Congo - is one of the poorest and most corrupt countries of the world, where workers, including children, labor in harsh and dangerous conditions to meet the world's soaring demand for cobalt. According to Statista, the world's cobalt reserves in 2016 amounted to a little over 6 million tons. The Democratic Republic of the Congo, in particular, cobalt reserves amount to 3.4 million tons, 1 million tons in Australia, 500,000 tons in Cuba, 290,000 tons in the Philippines, 270,000 tons in Canada, 270 thousand tons in Zambia, and 250 thousand tons in Russia. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |