Ann: U.S. Congress Select Committee proposal to support cobalt, page-14

There's a couple of new news items listed on the Jervois website via X that I'm not able to access, however just found this little gem:

An explainer:

Despite the strategic importance of cobalt, the mine's viability hinged on the precarious balance of market prices. The dramatic plunge in cobalt prices – from $40 to $15 per pound – rendered the operation financially unsustainable. This sudden shift in market dynamics underscores the unpredictability that mining ventures often encounter, where a promising project can swiftly turn into a financial liability.

The Idaho mine's closure was not just a result of market forces. The decision to shut down operations, made just weeks before its anticipated opening, was a hard-hitting reality check. The mine's owner, Bryce Crocker, faced the tough choice of closing the mine and laying off nearly 300 employees. This decision was driven by the simple yet brutal arithmetic of mining economics: with cobalt prices plummeting, extracting the metal became more costly than its market value.

Despite these setbacks, there remains a glimmer of hope. The mine's strategic importance and the ongoing need for a secure and ethical cobalt supply have kept the prospects of reopening alive. Efforts by mine owners to secure additional funding, including talks with potential investors and government support, hint at the mine's possible revival, especially in light of the growing emphasis on domestic mineral resources for technological and energy security.

https://www.renewatechs.com/why-ame...merica's only,to the mine's untimely shutdown.