The US military has sought to stockpile cobalt for the first time in decades

On August 22nd, according to foreign media reports, the US Department of Defense is planning to procure cobalt for its strategic reserve for the first time in decades, in the latest move to strengthen domestic supplies of the key metal. According to the invite tenders document released this week, the US Defense Logistics Agency plans to procure up to 7,500 tons of cobalt over the next five years, with a contract value of up to $500 million. This is the first time since 1990 that the Defense Logistics Agency has sought to procure cobalt, according to a person familiar with the matter. Demand for cobalt has risen sharply in recent years due to its use in battery manufacturing, but it is also crucial in a range of military system applications. Cobalt-based alloys are used in munitions and jet engines, while the metal is also indispensable for making magnets used in aircraft flaps, landing gears and flight control surfaces.