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According to a BBC article on the state of the cobalt market, over 60 percent of the world’s supply of cobalt comes from the DRC.
According to a BBC article on the state of the cobalt market, over 60 percent of the world’s supply of cobalt comes from the DRC. Meanwhile, China leads the way in the production of refined cobalt. The article goes on to highlight that with rising demand for the material used heavily in lithium-ion batteries, there have also been increased concerns regarding the US’ reliance on cobalt imports. In an attempt to spur local activity in the cobalt market, the US added cobalt to a list of 35 minerals considered to be critical to the economy. Alongside this initiative, cobalt companies that have been working in the US hope that the current state of the market will encourage faster government approvals and help set up local supply more favourably from imports.
As part of the BBC article, eCobalt (TSX:ECS; OTCQX:ECSIF; FRA:ECO) was referenced as a company which has “revived plans for its own cobalt mine in Idaho that were first mooted in the 1990s,” and expects to start production by the end of 2019. The author also quoted eCobalt VP of Investor Relations Fiona Grand Leydier, who believes that there is significant opportunity in the current cobalt space.
“The fundamentals for the cobalt market are so strong in a way that they have never been before,” Grant Leydier is quoted as saying. “We have a lot of interest from financiers, from potential partners and from potential employees.”
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