Interesting article from the nickel institute regarding the new EU Battery regulation that will apply to cobalt, lithium, natural graphite and nickel. Link to full article - 8 Aug 2023
"By 18 February 2025, those placing EV batteries on the EU market will have to report the carbon footprint of the EV battery"
"ESG Due Diligence Another priority relates to the environmental, social and governance (ESG) issues related to the production of raw materials. The European institutions want to ensure that the supply of battery raw materials does not lead to adverse impacts in other parts of the world where metals are mined and processed. The obligations are currently limited to cobalt, lithium, natural graphite and nickel. The economic operator will have to provide evidence that such ESG issues are acknowledged in a structured way and properly managed, and that companies address any identified issues. Compliance has to be shown by 18th August 2025. Guidance will be provided by the European Commission six months ahead."
COB are obviously aware of these regulations both for the EU and the US as this will likely create a new supply chain for eligible materials beyond 2025. As mentioned by Dr Andrew Tong in the COB investor webinar around the 24min mark. https://youtu.be/QMoc569eR3w?t=1435
COB Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)