By Matteo Castia

Glencore PLC said Thursday that it has extended its partnership with China's GEM Co. for the supply of cobalt hydroxide by another five years.

The FTSE 100 Anglo-Swiss miner said the two companies have formally embedded responsible sourcing and sustainability into the partnership.

Under the terms of the agreement, Glencore will provide around 150,000 metric tons of cobalt contained in hydroxide to GEM between 2020 and 2029.

Glencore shares at 1310 GMT were up 5.05 pence, or 2.3%, at 227.85 pence.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

December 03, 2020 08:33 ET (13:33 GMT)

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