Cobalt is valuable today because it is used to prevent lithium-ion batteries (found in cell phones and electric cars) from overheating. In 2018, it reached a record high of $100,000/ton. With that in mind, it’s big news that 112 tons of cobalt – worth approximately $10 million – was stolen from a warehouse in Rotterdam in July 2018. But that’s only part of what is a much bigger story.

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