Electromobility is booming and devouring raw materials
The government of Saudi Arabia has just decided to purchase up to 100,000 luxury electric cars over the next ten years. Initially, the government will purchase 50,000 vehicles on a mandatory basis, with a purchase option for a further 50,000. This is because Saudi Arabia is also pursuing net-zero targets and has sustainability ambitions ("Saudi Vision 2030," "Saudi Green Initiative"). The vehicles will be manufactured in a factory in Arizona and in a planned plant in Saudi Arabia. Major rental car companies, for example, also have their sights set on electrification. Hertz, for example, plans to become a leader in the e-rental car industry. According to the car rental company, 2022 will be "the year of electric mobility in the rental car industry.
The transformation of the mobility industry is based on the most important component of e-vehicles, the battery. Lithium-ion batteries have made raw materials such as lithium or cobalt sought-after materials. Very rich in cobalt is the Democratic Republic of Congo, but mining conditions are often not the best. Around 60 percent of the cobalt mined worldwide comes from the Congo. Thus, the politically problematic country will continue to play a major role in supplying the world with cobalt. Cobalt that does not come from the Congo has a special significance in this respect.
For example, in Finland, at Mawson Gold's - https://www.youtube.com/watch?v=CUWlpDzhTvw - Rajapalot gold-cobalt project. The first Preliminary Economic Assessment (PEA) has commenced. The project is 100 percent wholly owned by the company. Other gold projects round out the portfolio.
In Canada, the Canada Nickel Company - https://www.youtube.com/watch?v=yfZ3XroenBs - is working on its Crawford nickel-cobalt-sulfide project. In addition to the coveted cobalt, nickel is also an important raw material used in the automotive industry.
Current corporate information and press releases from Mawson Gold (www.resource-capital.ch/en/companies/mawson-gold-ltd/) and Canada Nickel Company (www.resource-capital.ch/en/companies/canada-nickel-company-inc/).
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