- Demand for cobalt forecast to grow in 2019 and the year beyond, increasing the price of the natural resource
- DRC is currently the world’s largest cobalt producer, but political turmoil and ethical considerations are providing excellent opportunities for alternative cobalt producers like First Cobalt
- 2018 was a successful year for First Cobalt, with Iron Creek Cobalt Project prospecting far exceeding initial expectations
The forecast for cobalt in the coming few years is a positive one, with demand set to grow and prices expected to increase 30 percent by mid-2019, according to analysts. The cobalt price reached near decades high in March 2018, but then dropped for a few months and is now expected to reach $70,000 per tonne by the middle of 2019 and $80,000 per tonne by 2020, as noted by a Capital Economics report (http://nnw.fm/i8hNN). The increase in both demand and pricing will most likely benefit alternative cobalt producers such as North American pure-play cobalt company First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC).
Geopolitical events and economic developments will likely contribute to the eventual hike. The Democratic Republic of the Congo (DRC) currently produces over 60 percent of the world’s cobalt. The country is dealing with an Ebola outbreak, as well as…
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