Thanks have FT sub but forbidden to copy and paste whole article. here is a quick summary
It discusses a QLD Geology Professor going to a Mt Isa disused copper mine and finding 7,000 part cobalt per million. 300 parts (yes 5%) of that only would get miners excited. It was a “Eureka moment” she said. Oz has 20% of the worlds cobalt but currently only producing 4% of global supply.
many states and Fed Govt now looking at disused mines and “scouring” for cobalt.
The scale of the cobalt opportunity in these tailing dams and dumps would mean that we would not be making 3,000 or 4,000 tonnes of cobalt [a year], but four or five times that, if we were to bring that to the market,” Kaderavek said. He estimated that there may be as much as 300,000 tonnes of cobalt in forgotten mine waste left by companies over the past century when metals for batteries were not in high demand.
consultant Wood MacKenzie expects cobalt demand to double by 2050 (seems underwhelming? - leggy comment) and said “they think cobalt still has a place in the battery system for better performing batteries”. 25% EV sales currently don’t use cobalt and this figure is growing.While Australia has potential as a material cobalt supplier , experts queried whether investors would put up LT capital due to battery technology developing so quickly. Indo is quickly developing their cobalt industry and if Oz isn’t quick we may miss the opportunity.
that’s it basically
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