Cobalt - a special raw material
(PresseBox) - Electric car batteries need cobalt, among other things. Currently, a ton of cobalt costs almost 82,000 US dollars.
The price for cobalt refers to trading on the London Metal Exchange and applies to cobalt with a purity content of at least 99.8 percent. As recently as January, a ton was available for around US$70,200. The largest cobalt reserves exist in the Democratic Republic of Congo, which is also the largest cobalt producer. However, the country is not politically stable. The second largest cobalt supplier is Australia, although production is significantly lower than from the Congo. Mostly, cobalt is a by-product of copper or nickel mining. Incidentally, Russia ranks fifth in terms of cobalt reserves. Cobalt is one of the most sought-after raw materials on earth. A strong increase in demand is expected due to the booming electromobility.
Lithium-ion batteries used in e-vehicles, but also many other electronic devices, thus need cobalt. For example, around 41 percent of cobalt goes into battery production. A battery in an electric car gobbles up about nine kilograms of cobalt. If the pandemic recedes into the background, the number of newly registered electric cars continues to rise and the aviation industry also picks up speed again (cobalt is also used there), then cobalt demand should only know one path, namely upward.
And cobalt is not only available in the Congo, but also in Ontario at the Canada Nickel Company - https://www.youtube.com/watch?v=yfZ3XroenBs -, for example. Its Crawford project contains high-grade cobalt, in addition to nickel.
Also in Finland, Mawson Gold s - https://www.youtube.com/watch?v=CUWlpDzhTvw - Rajapalot project has cobalt in addition to gold. A first preliminary assessment for the project is already available.
Current corporate information and press releases from Mawson Gold (-https://www.resource-capital.ch/en/companies/mawson-gold-ltd/ -) and Canada Nickel Company (- https://www.resource-capital.ch/en/companies/canada-nickel-company-inc/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Datum: 27.04.2022 - 01:41 Uhr
Sprache: Deutsch
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