we are looking at cobalt, used in electric cars. are getting creative in how to finance it. cobalt has a deal, why is it significant? rt watson joins us from rio de janeiro. what was the data behind the deal? >> basically it is a streaming deal, two companies will pay to get the cobalt that will be extracted. it's almost a watershed moment, if you will, because the prices tripled for the metal in the last couple of years. it's an opportunity to expand, go underground. they might not do that if it wasn't for the electric car revolution. this is provided an opportunity for them to get the financing they need. alix: when you're looking at how much they might get over the next decade, what cobalt prices that imply? >> it implies a price level of about $40 per pound, very similar to what it is trading out today -- trading at today. it's also a marker for what big companies like apple or carmakers like bmw might have to pay in the future to secure this from material. alix: it's not just cobalt, it is nickel and lithium. with nickel, there

we are looking at cobalt, used in electric cars.re getting creative in how to finance it. cobalt has a deal, why is it significant? rt watson joins us from rio de janeiro. what was the data behind the deal? >> basically it is a streaming deal, two companies will pay to get the cobalt that will be extracted. it's almost a watershed moment, if you will, because the prices tripled for the metal in the last couple of years. it's an opportunity to expand, go underground. they might not do that if it wasn't for the electric car revolution. this is provided an opportunity for them to get the financing they need. alix: when you're looking at how much they might get over the next decade, what cobalt prices that imply? >> it implies a price level of about $40 per pound, very similar to what it is trading out today -- trading at today. it's also a marker for what big companies like apple or carmakers like bmw might have to pay in the future to secure this from material. alix: it's not just cobalt, it is nickel and lithium. with nickel, there i

we are looking at cobalt, used in electric cars.re getting creative on how to finance its mine development. the first major contract to extract the metal why is it so significant? joining us is r.t. watson. he joins us from rio de janeiro. what was the data behind the deal? what are the intricacies? >> basically it is a streaming deal, two companies that are going to be paying to get the cobalt that will be extracted. it's almost a watershed moment, if you will, because the prices tripled for the metal in the last couple of years. it's an opportunity to expand, go underground. they might not be doing that if it was not for the buzz around the electric car revolution. this provided an opportunity for them to get the financing they need. alix: $300 million, when you take a look at how much they might be getting over the next decade, what cobalt price does that imply? >> it implies a price level of about $40 per pound, very similar to what it is trading at today. it also gives us a marker of what big companies like apple or carmakers l

we are looking at cobalt, used in electric cars.panies are getting creative on how to finance its mine development. the first major contract to extract the metal why is it so significant? joining us is r.t. watson. he joins us from rio de janeiro. what was the data behind the deal? what are the intricacies? >> basically it is a streaming deal, two companies that are going to be paying to get the cobalt that will be extracted. it's almost a watershed moment, if you will, because the prices tripled for the metal in the last couple of years. it's an opportunity to expand, go underground. they might not be doing that if it was not for the buzz around the electric car revolution. this provided an opportunity for them to get the financing they need. alix: $300 million, when you take a look at how much they might be getting over the next decade, what cobalt price does that imply? >> it implies a price level of about $40 per pound, very similar to what it is trading at today. it also gives us a marker of what big companies like apple or car

instead, we see cobalt coming from the democratic republic of congo, being a much bigger concern formily: how so? >> roughly 60% of the world's cobalt is sourced from there and it is a territory that has had significant sort of stability issues, and this is something that the automakers are concerned about when they look at the supply chain. emily: i want to bring in two people familiar with the growing need to create more energy storage, especially with the ion batteries. we have one of the largest manufacturers in the world for rechargeable batteries, also the ceo of fluence, a leading storage provider. john, i want to start with you. part of the surge is because the price and batteries has gone down so much that this is more economical now. so how do you say batteries disrupting the current power monopolies? john: batteries have come about really as an alternate to some of the power plants we would've otherwise built. often, we are building power plants for the reliability of the grid and today we have the opportunity to put battery systems in place fsame reliability and flexibili

it can be things like cobalt, which is really important in high-tech production in the congo. they have been a very good job of doing that. the third, the fourth category, dominate traditional manufacturing industries, they have done a superb job of doing that. machine tools, shoes, computers, electronics, they have well over 50% market share and most of the traditional manufacturing industry. they have become the factory floor of the world. this didn't happen by accident. it didn't happen through free market capitalism. it happened through the set of practices which i'm going to talk about shortly. and then these last two columns here capture in essence the problem that the united states trade representative has been grappling with in terms of the attacks on our technological base. by people's republic of china. this is simply acquiring the technologies and intellectual property from not just the united states, but from the rest of the world. and at the same time, capture the emerging high-tech industries that will drive future growth and advancements in the defense industry.

is $90,000 per metrito and in competitor cell, just the cobalt alone, the raw material costs would be $35 so, this cost decline and this new chemistry is putting tesla at a structural cost advantage compared to them so, i think people are going to be really excited when they start to process what came out of yesterday's call. >> and what do you think that means in terms of future cash burn because one of the biggest issues that were cited by investors and also moody's in the first quarter of this year is that the company seems to be spending a lot of cash, burning through cash to the tune of about $1 billion, and also it continues to borrow in debt markets as well. so, yes, they may be investing a lot in this new type of technology, but what does that mean for their company finances at the end of the day? >> right, i think that's a short-term concern and yesterday, you know, we saw the 3,500 capability perk. some new confidence that they'll be able to hit 5,000 model 3 per week by the end of this month. and i think what's really incredible is that market share. you know, they showed t

from the cobalt to the present to the sixty five years. as witnessed developments in germany and europe in thirty minutes w. . i'm not proud of them they will not succeed in dividing us about not succeeding taking the people off the streets because we're tired of the stick trying to show that. taking the stand global news that matters. made for mines. fighting for the case to take you seriously in the world of what appears has come out. on w code use the superheroes on a mission to change how to smart women smart drugs smart strange and legend. should find no means left out i'm in for increasingly dangerous time. to make sure. i ever want to walk into another exciting edition of your own x. i'm your host meghan lee from eating out in the city of love to vacationing on an isolated island we've got lots in store on the show today.

and vague look at him before the thief cut the cord to the cameras.a thief drove off in a red chevy cobalt in the last incident.in san je ella sogomonian kron4 news. (michelle) new at 10. we now know the name of the two climbers... who died after falling from a rock in yosemi national park. wells 42-year-old tim klein. the duo fell from el capitan yesterday...a three thousand foot rock. the hike...is known as one of yosemite national park's most difficult climbs. park rangers are still figuring out how those two clbers slipped. this is the second fatal incident in yosemite national park in a little over a week. last week... a hiker fell to his death climbing the granite cliffs of half dome in rainy conditions. (jrstone) in our world news coverage tonight -- guatemala's fuego volcano erupted for a second time this year on sunday. at 25 people are confirmed dead. reports say -- this eruption has been the strongest registered so far. the volcanic eruption ejected ash up to six miles in the air affecting guatemala city, as well as other neighboring towns. guatemala's government has ordered eva

congo has some of the world's most riches assets in cobalt and copper, and those are key to poweringou believe in the electric car revolution, this is a big part of that. glencore is clearly banking that it can benefit from this. heir tod glencoe is a diamond fortune. david: and a club -- >> and a close friend of joseph kabila, and i think these government ties have put a lot of scrutiny on glencore and girl are as well. mark: what are analysts saying? >> the broad consensus is glencore is making some way insulting its problems. i think that -- i think it is interesting that the shares have not moved much today. if it is good news, shouldn't the shares be rallying more? they are clearly trying hard to solve these issues. isn't this tricky, because they are contractually obliged to pay him mining royalties, but it is not straightforward? >> it is a very competent issue. had threatened to take him to court and take over glencore's access -- assets of the congo. they figured this was the best solution all around. mark: and the u.k.'s white-collar crime prosecutor is planning on opening

we have a lot of legacy it systems that are out there, some systems are cobalt. how do we make sure as we do upgrades, i understand with the uk they just went through a complete meltdown when one of the banks tried to upgrade their system. how are we thinking through this issue as we think about cyber security when we have the legacy id system in place? >>it is a fascinating question. one of the things in my testimony that i did not point out is cyber security is important but it is not the only technology risk. we have multiple risks not least including how we maintain and update legacy systems and make sure that those are protected with the new systems. one thing that is interesting, for most financial institutions, we have exacting standards for change management, standards on preventative maintenance to reduce that type of major project and major it migration risk. the other thing that is worth pointing out, it is a tremendous amount of focus from financial regulators, there is also an equivalent amount to focus on change management, software acquisition and

migrating cobalt within the outerspace treaty, nations nations are responsible for what they do they face in phase. some very nefarious activities have happened as we talk about the subcommittee the anti- satellite missile launch in 2007 created a debris field of thousands of pieces that we are still dealing with today. but the challenge that we is enforcement at the international level. and we have the activities change we haven't seen any enforcement as farnd as liability anybody pay the price should we punish a u.s. company that is a good question i would like to take that for the record and get back to you. if you are aware of this to maximize utility of space. and then we can deny access altogether.e there should be a legal regimes and then to have a statistical model? those that were killed because of that statistically will attribution there must be a reasonable source for thatna data. it could be ten millions or billions. >> attribution is critical. the piece of orbital debris to a specific nation or company that is the challenge going forward. >> be back like to start by sta

maybe oil and copper and cobalt performer anywhere new the u.s. dollar.ency strength continuing. want to bring up this chart very quickly. , youave etf's, gold etf's see a next this from those. how much of that has contributed to the gold price decline? huntersust under the 13 -- $1300 an ounce. that has added even further pressure. is it a reflection of what has been happening more than anything else? gavin: a little bit of both. it is certainly a relevant graphic they put up. it has shown that investors, particularly heavyweight investors, have taken money out of the gold sector, out of the etf's, which typically they have been playing at recent times. and that money has been parked at a safe haven in the u.s. dollar. it sounds in congress when you talk about the world's major nation that is in effect generating this trade war, that investors are putting money into the currency. this is not a typical. for the for stable future, for the near term, the u.s. dollar strength will probably continue. i think it can distract from a positive fanatic that is tak

and vague look at him before the thief cut the cord to the cameras.a thief drove off in a red chevy cobalt in the last incident.in san jose ella sogomonian kron4 news. (robin) we now know the name of the two climbers... who died after falling from a rock in yosemite national park. authorities identified the climbers as 46-year-old jason wells and 42-year-old tim klein. the duo fell from el capitan ... a three thousand foot rock. the hike...is known as one of yosemite national park's most difficult climbs. park rangers are still figuring out how those two climbers slipped. < "both climbers uh, they were in a party climbing together. they were climbing on the route known as 'freeblast.' i'm not sure exactly where they were on that route."> (robin) this is the second fatal incident in yosemite national park in a little over a week. last week... a hiker fell to his death climbing the granite cliffs of half dome in rainy conditions. (robin) in our world news coverage guatemala's fuego volcano erupted for a second time this year on sunday. at least 25 people are confirmed dead. reports say -- th