How China owns 80 cobalt reserves in the world..!?
How china owns 80 cobalt reserves in the world..!?
China has deceived a country by seizing 80 percent of the world's cobalt through a single deal. Jayant Mundra has described how china staged this scheme in a post published on his LinkedIn page. Cobalt is a material that is in great demand worldwide. Cobalt is a very important component in the batteries we use in electric vehicles. Similarly, cobalt is an important material used in superalloys. It is used in jet engines and gas turbines. In some places, cancer treatment is carried out using cobalt 60. Therefore, there is always a demand for cobalt internationally. china, realizing this in advance, has made almost 80 percent of the world's cobalt its own through a small deal. Congo is a country that can have 80 percent of the world's cobalt. In 2008, the Chinese government signed an agreement with the Congolese government. Accordingly, an agreement was made that permission should be given to mine cobalt and copper in the Congo, and in return, the Chinese government should invest in various infrastructure projects in the Congo. Following this, 15 of the 19 mines in the Congo are now in China's possession. All the cobalt separated here is exported to china, where it is valued and exported abroad. Through this, china earns several crores. This has caused concern among countries including the United States. However, there are allegations that china has not made investments in the Congolese government as promised.
China has deceived a country by seizing 80 percent of the world's cobalt through a single deal. Jayant Mundra has described how china staged this scheme in a post published on his LinkedIn page. Cobalt is a material that is in great demand worldwide. Cobalt is a very important component in the batteries we use in electric vehicles. Similarly, cobalt is an important material used in superalloys. It is used in jet engines and gas turbines. In some places, cancer treatment is carried out using cobalt 60. Therefore, there is always a demand for cobalt internationally. china, realizing this in advance, has made almost 80 percent of the world's cobalt its own through a small deal. Congo is a country that can have 80 percent of the world's cobalt. In 2008, the Chinese government signed an agreement with the Congolese government. Accordingly, an agreement was made that permission should be given to mine cobalt and copper in the Congo, and in return, the Chinese government should invest in various infrastructure projects in the Congo. Following this, 15 of the 19 mines in the Congo are now in China's possession. All the cobalt separated here is exported to china, where it is valued and exported abroad. Through this, china earns several crores. This has caused concern among countries including the United States. However, there are allegations that china has not made investments in the Congolese government as promised.