https://newsletter.mw.creamermedia.com

Cobalt Holdings plans to raise $230m in London listing

Cobalt mineral ore

Photo by Bloomberg

12th May 2025

By: Reuters

  

Font size: - +

Cobalt Holdings said on Monday it plans to raise $230-million through a global offer and potentially list its shares in the London Stock Exchange, aiming to offer investors pure-play exposure to prices of cobalt.

The company, which has a contract with Glencore to buy an initial $200-million worth of cobalt from the global miner, said it plans to use the proceeds from the equity raise to execute the purchase of the metal, a core component in electric vehicle batteries.

Glencore and affiliates of investment firm Anchorage Structured Commodities Advisor have agreed to invest about 20.5% of the shares to be offered, it said.

The company's six-year supply contract with Glencore provides a guaranteed supply of cobalt worth up to $1-billion. It also has a supply contract to buy up to 1 500 t of cobalt from Anchorage in 2031.

"We believe now is the right time to build a strategic stockpile of cobalt. The long-term price of cobalt has historically been well above the prevailing spot price," CEO Jake Greenberg said in an expected intention to float filing.

Its shares are expected to be admitted to the stock exchange in June, the company said.

Edited by Reuters

Comments

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (09/05/2025)
9th May 2025 By: Martin Creamer
Magazine round up | 09 May 2025
Magazine round up | 09 May 2025
9th May 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.15 0.228s - 143pq - 2rq
Subscribe Now