Things become even muddier if you start looking into China’s influence (both economic and political) in the Democratic Republic of Congo, where the bulk of the entire world’s cobalt supply comes from, which might give it more ready access to cobalt.
In 2020, it spent twice the amount on Cobalt imports than the next four countries combined. The EV boom is expected to be the largest catalyst for driving up cobalt demand around the globe, and the current projections suggest that the demand is going to outpace supply, driving up prices.Īnother reason the prices are up so much is that China is buying up as much as it can, which is understandable since it’s leading the charge in EV manufacturing. This indicates volatility and massive scope for growth, both of which can be very attractive traits if you can capitalize on them properly. The price is per ton of cobalt, and it has experienced two spikes in the last decade, going up as much as 400% from the lowest to the highest point. Cobalt – Market DynamicsĬobalt prices have seen a drastic shift in the last decade. Even though silver is its primary production and the financials and the stock are more likely to sway with silver prices, the company has already started positioning itself in the cobalt space, thanks to its decent production capacity. It has multiple projects in place with decent inferred resource quantities. Industry Niche: Exploration and developmentĬanada Silver Cobalt’s primary focus is exploring and developing silver resources in Canada, and cobalt is the major by-product.
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