VIDEO - Anthony Milewski: Exceptionally Bullish on Cobalt, Nickel

Cobalt and nickel prices have followed different paths in 2019, but demand for both metals is expected to increase significantly in the next decade, driven by the electric vehicle revolution. 

To learn more about what to expect next year, the Investing News Network sat down with Anthony Milewski, chairman of Conic Metals (TSX:NKL), at this year’s Benchmark Minerals Week.

“The cobalt market has really fallen off its high from almost two years ago, and what we’ve learned is the artisanal response in Congo is real and material,” he said.

Milewski also talked about what’s been happening with cobalt prices since the summer and what he expects to see next.

“I think for the next six to 12 months cobalt will trade in a range of probably a high in the low US$20s (per pound) and potentially trading lower depending on macro news around the world,” he said.

The chairman of Conic Metals, established after Pala Investments acquired Cobalt 27 Capital, said he exceptionally bullish on cobalt.

“When we started looking at cobalt initially, there was this question of, ‘Is there enough cobalt?’ and I think we definitely know now that there’s going to be enough cobalt — although that cobalt is going to largely come out of the Congo,” Milewski said.

He added that right now what the industry needs to do is figure out ethical sourcing and how to integrate artisanal mining into the supply chain.

Speaking about nickel, Milewski said he is also incredibly bullish on nickel, initially because of where the chemistries for batteries are going.

“You can see that there’s this optimal battery chemistry, which is very nickel heavy, so it’s going to put a pretty significant demand on the nickel market in the coming years,” he added.

He also talked about what has been driving the nickel market this year, saying it has not been the battery sector, but instead the Indonesian export ban and destocking of the London Metal Exchange.

Watch the video above to learn more about what Milewski expects next year for cobalt and nickel. You can also click here for more video interviews from Benchmark Minerals Week

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.