U.S. Firms Buying Tariff-Free Cobalt from China’s Lygend Resources in Indonesia

Several U.S. companies are purchasing cobalt metal from a Chinese company, Lygend Resources, which produces it in Indonesia. This allows them to avoid the tariffs that the U.S. government, under former President Donald Trump, had imposed on cobalt imports coming directly from China. Three sources with direct knowledge of the situation confirmed this information.