Glencore to buy almost $115 million of cobalt from industry veteran Weisfisch

Published: Feb 24, 2026 18:37

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According to reports, Glencore has agreed to purchase approximately 2,000 metric tons of cobalt in batches in 2026 from industry veteran Rami Weisfisch, with a total value of nearly $115 million at current prices. The material is mainly stored in Europe and North America and is expected to be shipped to the United States for inclusion in its strategic stockpiling program for critical minerals, aimed at reducing reliance on China in the supply and processing of key metals. The transaction is also seen as marking the conclusion of Weisfisch’s five-decade career in the cobalt industry.

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