Cobalt is an important mineral for the manufacturing of batteries in electronics and electric vehicles. The fact that a couple of mining companies in the United States are staking claims at sites in Idaho, Montana and Alaska shows the growing demand for cobalt. It is the first time in forty years that cobalt is mined in the US.
The price of cobalt have been doubled in the last seven years up to $40. Even though the US will have only a tiny fraction of the world market, analysts foresee a premium price for the materials.
Caspar Rawles, an analyst at Benchmark Mineral Intelligence: “Every company in the supply chain is looking to reduce their geopolitical risk, so I think any project outside of the DRC is in a strong position in that sense,”