1) Wu Lijue, chairman of Guangdong Jiana Energy Technology Co, a supplier of cobalt salts and other materials for EV battery cathodes told Reuters that China should consider upstream cobalt investments in Canada and Australia. Jiana has looked at potential assets in Canada, he said, without giving further details.
2) Xu Aidong, secretary general of Antaike’s cobalt branch, said China “should develop some new channels” in its cobalt supply chain, by turning to other cobalt-producing countries such as Australiaand stepping up recycling.
3) The risk of investing in the DRC was highlighted in late September, when the country briefly ordered a joint venture of Chinese investors known as Sicomines to stop exporting raw copper and cobalt.
(DRC is currently by far the biggest supplier, by country for Cobalt)
4) Driven by the EV boom, China’s cobalt consumption is set to rise by 17.4 percent this year to 54,000 tonnes, according to Ding Xuequan, vice president of the China Nonferrous Metals Industry Association.
I won't be surprised if Chinese companies take out a large stake in N27 if we can prove we have the resource big enough. We already have the goods in the ground however still need to determine the potential size of deposit. Still it's a great buy risk/reward scenario.
RML Price at posting:
60.5¢ Sentiment: Hold Disclosure: Held
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