- Demand for cobalt in vehicle battery materials expected to grow more than 40 percent in 2018
- Prices for cobalt metal hit their highest levels in 10 years in the first half of 2018, reaching over $90,000 per ton on the London Metal Exchange
- First Cobalt acquired 100 percent ownership of promising Idaho Iron Creek property, brought in additional drilling rigs
- Results expected soon from preliminary metallurgical work and maiden resource estimate from broad zones of cobalt-copper mineralization at Iron Creek Project
A tightening market and projected shortages of cobalt – a key battery metal used in everything from smartphones to electric vehicles, electronics and defense systems – is generating concern around the world, industry analysts report. Cobalt prices have tripled over the past two years, posing a threat to how quickly the electric vehicle market can grow in the near future, as noted in an article published by Bloomberg (http://nnw.fm/0UaC1). Additionally, concerns over the methods being used by the politically unstable Democratic Republic of the Congo, where 60 percent of the world’s cobalt is produced, remain a factor for many of the world’s largest consumers of cobalt.
Vertically integrated pure-play cobalt company First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC) has consciously and strategically placed its efforts into its North American assets such as the Iron Creek Project in Idaho and the Greater Cobalt Project in the…
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