NetworkNewsWire Editorial Coverage: As cobalt becomes increasingly important in powering technology, the U.S. government has identified it as a critical mineral for securing national interests. This reflects a rise in demand that is already affecting a number of companies. First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) (FTSSF Profile) is using the opportunity to establish mining and processing facilities in the United States and Canada, powered by a recent merger. Glencore PLC ADR (OTC: GLNCY) continues to benefit from its Katanga mine, which is expected to produce 42 percent more cobalt this year in response to demand. eCobalt Solutions, Inc. (OTCQX: ECSIF) is developing a fresh source of cobalt in Idaho, increasing America’s ability to provide for itself. Demand for the precious mineral comes from tech companies such as Tesla, Inc. (NASDAQ: TSLA), which needs cobalt to power a dramatic rise in production of its electric cars. Tesla is competing for resources with the likes of Apple, Inc. (NASDAQ: AAPL), which is moving towards directly sourcing the cobalt needed for its device batteries.
The Critical List
Since the election of President Trump, the United States has been moving towards a strategy of self-reliance in mineral resources. The introduction of trade tariffs on steel and aluminum (http://nnw.fm/4riEA), justified on grounds of national security, are just part of a wider plan to ensure access to critical resources. As part of this, the Department of the Interior has published…
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