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Chinese Mining Companies Are Pushing Down the Price of Cobalt, U.S. Committee Wants to Do Something About It

There’s a growing awareness in Washington, D.C., that the rock-bottom prices of certain critical resources used to manufacture electric vehicle batteries provide China a competitive advantage while jeopardizing U.S. national security.

A massive glut of cobalt, nickel and other EV battery metals has pushed prices to 52-week lows, which is great news for automakers and consumers but terrible for privately-owned Western mining companies seeking to challenge China’s dominance in the critical minerals sector.

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