E-mobility causes rising demand for raw materials
The automotive industry started working on electromobility years ago. Battery-powered vehicles are selling well today, in the USA, in China and also here in Germany. In the first six months of the current year, more electric vehicles were already sold in Germany than in Norway, where sales are strong. The main raw materials needed for batteries are lithium, nickel and cobalt.
Cobalt mostly comes from the Congo. According to the U.S. Geological Survey, 95,000 tons were produced there in 2020, which corresponds to about 60 percent of global production. As cobalt mining there must be viewed critically, the London Metal Exchange is concerned with responsible procurement. The second largest cobalt supplier is Russia with 6,300 tons, which is significantly less than Congo. Next in the list of producers are Australia, the Philippines, Cuba and Canada. In Canada, the cobalt mostly comes from large nickel and copper mines. In seventh place is Papua New Guinea, followed by China, Morocco and South Africa.
There is also cobalt in Finland. Here, Mawson Gold - https://www.youtube.com/watch?v=CmhhvlWgTdw - owns the Rajapalot gold-cobalt project. This is a significant resource that can probably still be expanded.
The Canada Nickel Company - https://www.youtube.com/watch?v=KMo4yB9qHYc - can score with the battery metals cobalt and nickel (Crawford project in Ontario). Nickel is important not only for electromobility but also for the emerging stainless-steel market.
Current corporate information and press releases from Mawson Gold (https://www.resource-capital.ch/en/companies/mawson-gold-ltd/) and Canada Nickel Company (https://www.resource-capital.ch/en/companies/canada-nickel-company-inc/).
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