Exactly Blue Samurai. Any prospective partner must be well aware there is no room for error in the rapidly changing market for Cobalt, and no doubt are carefully considering:
• The recent large surge in Indonesian exports and a forecast massive increase in Congolese production this year (up 38%).
• China Moly about to open it’s monster 30,000t pa Congo mine (which is non-artisanal and therefore presumably definition ‘ethical’.
• Recharge’s newly opening gigafactory in Geelong manufacturing cobalt free EV batteries only.
• BYD’s Seal EVs imminent release in Australia using latest cell to pack LFP battery technology with range of over 500km despite supposed energy density shortcomings of cobalt-free LFP batteries.
• The longer-term prospect of an increasing proportion of cobalt demand being met by recycling.
• This week’s edition of The Economist, one of the world’s preeminent business journals, concluding that no matter how fast the energy transition speeds up, blue gold is unlikely to act as a brake.
COB Price at posting:
46.5¢ Sentiment: Hold Disclosure: Held
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