Electromobility is not possible without cobalt and lithium
The demand for these raw materials is rising and bottlenecks are looming. Research on lithium-ion batteries continues to focus on refining the chemical composition, not on other materials. Cobalt mining is particularly prevalent in the Democratic Republic of Congo, where environmental degradation, health risks and child labour are denounced. Cobalt properties in politically safe and mining-friendly regions are therefore of particular importance.
This is where First Cobalt - https://www.commodity-tv.net/c/search_adv/?v=298478 - scores in North America, particularly with its flagship project, the Iron Creek Cobalt Project in Idaho, which is one of the world's rare primary cobalt properties. The Company also owns 50 earlier producing mines at Canadian Cobalt Camp and an approved cobalt refinery that is the only one in North America capable of producing battery materials. An updated resource estimate will be available for the Iron Creek project in early 2019.
Cobalt in the battery leads to a higher energy density, which is important in order to transport vehicles over hundreds of kilometers. The migration of charged lithium atoms from the cathode to the anode ensures the current flow. When charging, the lithium atoms migrate back again. Only lithium with a purity of 99.9 percent can be used.
The highest quality lithium deposits are found between Chile, Argentina and Bolivia. In Salta, Argentina, for example, Millennial Lithium - https://www.commodity-tv.net/c/search_adv/?v=298600 - has two advanced projects, Caucharí East and Pastos Grandes. The company controls more than 20,000 hectares of claims. Recent drilling at the Caucharí East project has successfully intersected lithium-bearing zones.
Current corporate information and press releases from First Cobalt (https://www.resource-capital.ch/en/companies/first-cobalt-corp.html) and Millennial Lithium (https://www.resource-capital.ch/en/companies/millennial-lithium-corp.html).
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