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Cobalt production to 10,000 tons! Chemaf challenges the hegemony of Glencore Cobalt Industry

DUBAI: A low-profile Dubai-based businessman has emerged as a key player in the race to secure global cobalt supplies to help power the electric vehicle revolution. Dubai-headquartered Shalina Resources, headed by Shiraz Virji, is staking its claim to the increasingly precious commodity found in the copper-rich soil of the Democratic Republic of Congo (DRC), Arab News can reveal. Cobalt is an essential mineral used for rechargeable batteries in electric vehicles (EVs), a market that is forecast to explode in the next quarter of a century as international car companies reduce their reliance on gasoline-powered vehicles.