US Halts $500 Million Cobalt Procurement in Strategic Minerals Setback

The US Department of Defense has unexpectedly withdrawn a solicitation to purchase cobalt, highlighting the ongoing difficulties that Western nations encounter as they try to secure local sources of this essential component for batteries.

Cobalt Tender Cancellation

Originally announced in mid-August, the Defense Logistics Agency had invited bids for the supply of up to 7,500 tons of cobalt over the next five years. This procurement effort, potentially valued at up to $500 million, marked the first initiative by the US government to procure cobalt, as previously reported by Bloomberg News.