Developing World-class Cobalt Properties in Idaho and Canada
International Cobalt Corp. (CSE:CO, FWB:42L, OTCMKTS:COBAF) is a Canadian exploration company that operates out of Idaho, US and Eastern Canada. The company is focused on exploring and developing its portfolio of properties towards producing cobalt for the growing battery and electric vehicle (EV) markets.
As countries around the world, including China, are focusing on reducing their environmental footprints, the need for minerals like cobalt is on the rise. Cobalt is a main component in cathodes in lithium-ion batteries for EVs, and this has sparked the demand for the metal. The demand for cobalt in batteries is expected to grow at 14.5 percent per year to 2027, according to a Roskill report.
The growth rate of cobalt demand is a concern amongst manufacturers and miners alike as most of the world’s supply of cobalt is produced in the politically unstable Democratic Republic of Congo (DRC). This has led companies such as Tesla (NASDAQ:TSLA) and Apple (NASDAQ:AAPL) to search for stable, conflict-free regions from which to source their cobalt. Currently, there are no active cobalt producers in North America; but International Cobalt are developing five cobalt projects in Canada and the US.
International Cobalt Company Highlights
- Operating in politically stable, mining friendly jurisdictions in Canada and the US.
- Exploring world-class cobalt projects with the aim of providing a solution to the supply and demand issues generated by the EV and renewable resource sectors.
- Idaho cobalt projects are within proximity of eCobalt’s Idaho cobalt project.
- Blackbird Creek project’s Ludwig showing has a historic sample which intersected 7 meters of 0.71 percent cobalt.
- Formation North project’s Bonanza zone has returned historical intercepts of 17.8 meters of 0.24 percent cobalt and 0.15 percent copper and 18.2 meters of 0.18 percent cobalt and 0.34 percent copper.
- Formation North project’s Tinker’s Pride zone returned an intercept of 6.9 meters grading 0.41 percent cobalt and 2.01 percent copper.
- Exploration potential at Ramsey, Mount Thom and Foster Marshall properties.