Cobalt: A Critical Metal to Clean Energy

Investment U Research reported that cobalt is making a comeback.

The market news is quoted as saying:

In December of 2010, The U.S. Department of Energy outlined its “Critical Materials Strategy.” Cobalt is one of 14 elements defined as a critical metal to clean energy over the next 5-15 years. Nine of these 14 are classified as rare-earth elements.

The DOE sees cobalt as such a critical metal because of its use in lithium ion batteries. The DOE predicts that each electric-powered vehicle (PHEVs and EVs) will demand 9.4 kg of cobalt. That doesn’t even include all of the cell phones, tablets and laptops that will continue to use lithium ion batteries. Cobalt is also a significant ingredient in Nickel Cadmium and NiMH rechargeable batteries.

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Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) primary asset, located in the mining friendly state of Idaho, is the 100% owned, Idaho Cobalt Project. The ICP is a unique, high grade, primary cobalt deposit which is comprised of the mine and mill site and the proposed refining facility, the Cobalt Production Facility, a stand-alone hydrometallurgical facility that will process the ICP Mine concentrates into cobalt sulfate, copper sulfate, copper concentrate, magnesium sulfate and gold. Connect with FCO to get their latest news instantly.

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