#Glencore looking to trade #Lithium on soaring EV demand
Mining and commodity giant Glencore is looking to add lithium to the suite of metals it trades, as the raw material is in hot demand due to the rapidly growing production of electric vehicles (EVs), two sources with knowledge of the matter said.
If it goes ahead, the Switzerland-based company’s trading team would be part of the zinc and copper business run by Jyothish George and Nick Popovic, the sources said.
Glencore declined to comment.
The company does not own lithium mines but produces copper, nickel and cobalt, other raw materials that it terms “commodities of the future,” as they are needed to manufacture batteries, electric cars and renewable infrastructure that will help the world transition to a greener economy.