- Company is largest landowner in renowned, historically productive Canadian Cobalt Camp
- Cobalt price has risen four-fold during past two years amid worldwide demand for EVs
- More than half of all auto sales expected to be EVs two decades from now
Global society’s growing dependence on smartphones and other new technology, as nearly essential elements of daily routine, has become the foil of comedy platforms and reformative movements that offer a getaway from modern connectivity, but there’s no denying the importance of Internet-enabled tech gadgets to consumers, as well as the industries that supply them. That’s especially visible in the international rush to secure supplies of cobalt, a rare mineral that helped revolutionize the way high-tech battery cathodes move electrons in a more efficient way to minimize overheating problems. Amid the trend, Canadian company First Cobalt Corp. (TSX.V: FCC) (OTCQB: FTSSF) is pursuing its goal of becoming the largest pure-play cobalt exploration and development company in the world.
The progression in cobalt interest has been evident as cobalt prices made a four-fold increase from their February 2016 level, rising from $21,750 per ton to a record $84,250 on March 8, when they plateaued for several days. A worldwide interest in increasing electric vehicle battery-power use as an alternative to fossil fuels has been the primary impetus behind the rising prices. At the same time, the metal has become harder to find, especially as some auto and electronics manufacturers have tried to secure…
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