CEO RAMBLINGS - JANUARY 8, 2019
The only thing that can accelerate as fast as an electric car is the price of the most expensive metal in its batteries. Once a niche market used to strengthen turbine blades, cobalt's value has soared since it started to feature in modern electronics. Most phones need a few grams worth and every electric car requires 5 - 10 kgms. That adds up quickly. Just focusing on EV's it is expected that cobalt demand will increase by a factor of 25 times by the year 2050. The electric car makers have already invested around $100 billion in new electric car technology. One estimate I read recently indicated that by 2030 at least as much of the stuff will be need for transport alone as was mined in 2017 in total.
Most users of cobalt today are concerned about how cobalt is sourced. They want to get away from using "Conflict Cobalt" which currently is 60% of the globes production coming from the "hell hole" known as The Democratic Republic of Congo". Just google the poorest country on earth to see why I call it that. The world market for cobalt needs to find a new source of supply. Atacama may be in a position to be part of the solution since we are presently developing our cobalt claims which are located right in the center of what is known as Canada's COBALT CAMP. Talk about being in the right place at an opportune time. I am Glenn grant, CEO of www.acrlintl.com