China which is the world leader in cobalt supply and also the world leader in its consumption regarding the development of electricity storage, is funding the development of DRC cobalt projects in billions. So the early consideration you mentioned has already happend.
Betting that the electric vehicle revolution will drive cobalt prices into the stratosphere is wrongfooted. Next year Glencore, the world’s biggest cobalt producer, is due to bring the Katanga mine back on line after a $430m overhaul of its processing system. The operation has the potential to add as much 22,000 tonnes of cobalt to a market with annual output of around 100,000 tonnes. This will bring the price of cobalt, which has surged 135 per cent this year, back to earth with a bump.
The resumption of production at Katanga will significantly change the supply dynamics for cobalt and ensure the market is well supplied up to the end of 2019, ending the supply shortage.
I look at this project without sentiment, I was an early holder and speculated that the only possibility for this project to become viable is to position itself before 2018, when the cobalt supply was still cut short due to Katanga mines being overhauled and the copper and nickel mines were forced to curtail production.
Now with Glencore and China Molybdenum pumping enourmous sums into cobalt supply dominance and getting on track in 2018 with their DRC holdings, the australian cobalt producers look worse than what they looked in 2015.
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