Glencore-backed group looks to rescue cobalt refiner Sherritt

A new consortium backed by Glencore has emerged to potentially take control of Sherritt International, aiming to rescue its cobalt refinery in North America, which is the continent's only one. This move comes as the cobalt market faces volatility and production challenges, highlighting the strategic importance of securing reliable supply chains. The consortium's involvement underscores the global reliance on cobalt, especially for the booming electric vehicle and renewable energy sectors, where stable cobalt supply is critical. For Sherritt, this intervention could mean the difference between survival and collapse in a highly competitive market.