Apple is in talks to buy long-term provides of cobalt for iPhone batteries directly from miners, Bloomberg probed on Wednesday, citing sources.
The iPhone maker is seeking contracts to buy various thousand metric tons of cobalt for five years or longer, Bloomberg backfire, citing an anonymous source.
Cobalt prices have skyrocketed of fashionable due to an expected growth in demand for electric vehicles powered by lithium-ion batteries.
Apple may end up deciding not to go up ahead with a deal, the report said, citing another source.
Apple was not at once available for comment outside regular business hours.