As electric vehicles (EVs) continue to become more relevant in both government policy-making and consumer choices, lithium-ion batteries, which fuel these vehicles, have also been on the rise.
As electric vehicles (EVs) continue to become more relevant in both government policy-making and consumer choices, lithium-ion batteries, which fuel these vehicles, have also been on the rise. With this growth, a number of battery metals have emerged as being key components of lithium-ion batteries, with eyes turning critically to the impact on supply and demand. Among these metals is cobalt, which has historically been explored primarily as a byproduct of copper.
In a recent article by Mining Global that addresses the impact of EV growth on the cobalt industry, First Cobalt (TSXV:FCC) President and CEO Trent Mell addressed the company’s mandate to become a pure-play cobalt producer with its Iron Creek project in Idaho’s Cobalt Belt, and its permitted cobalt refinery and exploration project in the Canadian Cobalt Camp. The company would also take advantage of its strategic geographic positioning to interact with local companies vying for cobalt in the automobile and technology industries alike.
“With Idaho and Ontario, we have what I think are two of the most prospective camps outside of Africa,” he is quoted as saying in the article. “Our vision is simple: to mine, refine and sell cobalt in North America. It could be to Apple, to Tesla or to GM, it doesn’t matter who. There is currently no domestic supply in Canada and the US and I think that First Cobalt is positioning itself to be the first one to do exactly that.”
Advancing its projects towards production, First Cobalt has been conducting extensive exploration work on its properties so as to better understand the available resources. With these projects, alongside ownership of the only permitted cobalt refinery in North America, the company is looking to address the growing demand for the blue metal, which is at risk of facing a supply deficit in the very near future.
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