On November 29th, 2018, Investing News Network published an article discussing Chile’s cobalt production and their contribution to the growing electric vehicle industry. Alongside lithium and other metals, cobalt comprises part of the battery cathode and, because of its properties, cannot be easily substituted.
Given this lack of substitutability, and as suggested by M.Plan’s managing Director David Anonychuk in an October 2018 interview with Investment News Network at the Benchmark Mineral Week’s Cathode conference in Newport Beach, cobalt demand could quadruple by 2035 from the current 110-120 thousand tonnes per annum. CRU Group Analyst George Heppel shares a similar sentiment suggesting cobalt demand should remain strong for the next 5 to 10 years. However, with the impacts of mineral development in the Democratic Republic of Congo (DRC), finding stable, ethically sourced cobalt will become very important, giving the underestimated potential of cobalt mining in Chile a chance to flourish.
To read the full Investing News Network article click here.