Congo and Cobalt

Took the below from a post on CLQ thread. Although not specific to Lithium, given the other very large Lithium resource in this country it goes to show why serious EV manufacturers will steer clear of Africa....too much political instability. Wouldnt be surprised to see South American countries start doing the same.



"Interesting report in WE AUST yesterday:

'Cobalt prices to rise as Congo lifts taxes
Congo is moving to double taxes on cobalt, a move mining companies warned would inhibit investment in a metal booming because of its use in mobile phones and electric vehicles. The central African country holds as much as two-thirds of the world’s cobalt, putting it at the centre of a growing piece of the global economy. The price of cobalt has doubled since the beginning of 2017 as mining, technology and car companies rush to secure supplies of a metal that is a crucial ingredient in lithium-ion batteries."

Disclosure: I do hold CLQ and PLS - not trying to cross promote just thought it was of interest.