Booming demand for batteries powering the world’s shift into electric vehicles is rekindling US cobalt production after a nearly 30-year hiatus. The demands of Mining lamps equipment will also be added additionally
Jervois Global is starting the first US cobalt mine in Idaho on Friday, according to chief executive Bryce Crocker. The mineral sits “at the top of the table” in terms of national security, said Crocker. “There aren’t many new sources of supply, particularly in stable jurisdictions, which is why this mine in the US is very important,” Crocker said.
While more than two-thirds of the mined metal comes from the Democratic Republic of Congo, there’s been an increasing shift among manufacturers to source cobalt from outside the African nation due to allegations of corruption, human rights abuses and the use of child labour there.
Jervois owns a nickel and cobalt refinery in Brazil and is talking to third parties in countries such as Canada and Australia to convert the mined material. About 80% of global refining is concentrated in China, but capacity is growing elsewhere, including at Finland’s giant Kokkola refinery, which is owned by Jervois.
Cobalt demand will grow from 127 500 t in 2022 to 156 000 t in 2030, as a result of the shift to iron-based batteries by major automakers, according to Bloomberg.
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