Managem SA has signed an agreement with Renault Group to supply low carbon cobalt sulfate, a key component for electric vehicle (EV) batteries.
Under this seven-year supply deal, Managem will supply Renault with 5,000 tonnes of cobalt sulfate annually starting from 2025.
Moroccan officials said the country, with the 11th largest reserves, was pushing to increase its cobalt output given higher demand from rechargeable battery makers.
In January, Managem said it had agreed on a deal with Glencore Plc for a proposed refining project at the Bou Azzer mine near Marrakech.
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