Chart Chat, page-966

great analysis and completely agree

further on the EV sector, cobalt and nickel are typically the two most valuable materials in an electric vehicle battery, and the demand is going to continue with the changes going forward within the industry

even if they can reduce the amount of cobalt reqd for each battery the resource itself is limited, and much of it is in the DRC which has high sovereign risk

"cobalt is limited in supply not just in terms of tonnage but also origin,” he said. “I can’t think of another commodity where supply is so reliant on one origin nation than cobalt.”
Almost 60 per cent of the world’s unrefined cobalt output last year came from the Democratic Republic of Congo in central Africa, whose output was more than 10 times that of the second producer Russia, according to US Geological Survey. Congo also has just over half the world’s reserves of the metal.'

http://www.scmp.com/business/commod...es-all-out-secure-lithium-cobalt-supplies-key