- Reports of human rights abuses negatively affecting Congo as source of cobalt
- North American cobalt represents only feasible alternative source
- First Cobalt Corp. has commanding presence at Cobalt Camp
A December 2017 report issued by the U.S. Geological Survey shines the spotlight on cobalt. Titled ‘Critical mineral resources of the United States—Economic and environmental geology and prospects for future supply’, the report identifies the hard, lustrous silver-grey metal as one of 23 minerals “you need in your life” (http://nnw.fm/q0AZ4). Undoubtedly! Cobalt finds use mostly in the cathodes of rechargeable batteries, demand for which, to power devices both great and small, continues to climb. From smartphones and tablets to electric vehicles (EVs) and virtual power plants, cobalt is working its way further into our lives. These market forces are also casting the limelight on cobalt mining company First Cobalt Corp. (TSX.V: FCC) (OTCQB: FTSSF). Since its cobalt properties lie in North America, the junior explorer avoids the negative publicity of mining African cobalt.
Since early 2016, when Amnesty International published an exposé of the exploitative practices rife in Congo’s cobalt mines, the pressure has been rising on marquee manufacturers that use the mineral to utilize alternative sources. Supplies from the Democratic Republic of the Congo (DRC), the principal global source of mined cobalt (55 percent), are increasingly tainted by reports of…
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