Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Rise of Electric Cars Fuels Cobalt Market Surge


News provided by

NetworkNewsWire

22 Feb, 2018, 13:30 GMT

Share this article

Share toX

Share this article

Share toX

NEW YORK, February 22, 2018 /PRNewswire/ --

NetworkNewsWire Editorial Coverage 

Advocates have long argued that environmentally friendly technologies could provide a boost to any economy. In the past few years, the rise of the electric car has proved them right. Not only is it creating wealth in the manufacturing sector, but it's having spill-over effects in related industries. The need for cobalt in the manufacture of green car batteries has fueled staggering growth for First Cobalt Corp. (TSX-V: FCC) (OTC: FTSSF) (FTSSF Profile), with a share price increase of as much as 350 percent in a single year. Behind the showmanship of CEO Elon Musk, Tesla, Inc. (NASDAQ: TSLA) is becoming the leading brand name for electric vehicles, with a range of cars and trucks. Mining giant Glencore Plc (OTC: GLNCY) is riding the same wave as First Cobalt, providing a third of the world's cobalt. eCobalt Solutions, Inc. (TSX: ECS) (OTC: ECSIF) is tackling the new environmental and ethical concerns this growth has raised, by focusing on ethically sourced cobalt for an ethically oriented market. Even the grandee of American motor companies, General Motors Company (NYSE: GM), is getting in on the act with plans to launch 18 new all-electric vehicles by 2023. The electric car industry is set for big growth.

The Rise of the Electric Car

Twenty years ago, the electric car seemed like little more than an environmentalist's whim. But with the growing impact of pollution on the environment, governments and businesses have worked hard to make electric transport a reality. Now, the whim is bearing fruit. Electric cars are on the roads. Charging stations are becoming a more common companion to petroleum fueling stations. There are even apps tailor made to help drivers ensure their batteries stay charged.

It's predicted that one in six cars sold will be electric by 2025. Both Britain and France have declared their aims to end sales of petrol and diesel cars by 2040. Simply put, the market is shifting away from traditional fuel sources and toward more environmentally friendly solutions.

Perhaps the biggest indicator of this shift is the interest taken by BMW. The German multinational has not only committed $250 million to battery research, it is striving to lock in contracts to ensure its entire battery supply chain for the next 10 years. It's a huge commitment from the motoring giant, and a guarantee of ongoing growth for the industries behind those batteries, such as cobalt mining.

Creating a Sustainable Solution

One of the biggest problems with the rise in demand for cobalt is establishing a secure, sustainable, ethical source of the mineral. It's a challenge that First Cobalt Corp. (TSX-V: FCC) (OTCQB: FTSSF) has risen to with its North American drilling strategy.

Nearly two-thirds of the world's cobalt supply currently comes from the Democratic Republic of Congo (DRC). The exponential issue is that the DRC is plagued by violence and corruption. Few companies can keep their hands clean while working there, and recent political turmoil led to a 90 percent jump in the price of cobalt. Reliance on DRC cobalt creates insecurity for manufacturers and for nations whose automotive infrastructure will soon be reliant on electric vehicles as much as big oil. By providing cobalt from North America, First Cobalt is in a position to deliver cobalt more cheaply, securely and ethically, guaranteeing its place in the market.

First Cobalt has quickly established an impressive operation based in Canada. Through mergers with CobalTech (http://nnw.fm/5uNvx) and Cobalt One (http://nnw.fm/Ss3B6 ) it has gathered a large area of mining territory, as well as the tools and expertise to exploit it. Trent Mell, the president and CEO of First Cobalt, said of the mergers: "Over a very short period, we have created the largest cobalt exploration company in the world, controlling almost half of what we believe may be the most prospective cobalt district outside of the DRC. We intend to pursue an aggressive exploration program in 2018 while continuing to assess other growth opportunities."

The company's advantages extend to industrial processing facilities. It has the only cobalt extraction facility in North America that is permitted for producing battery materials, putting it in a unique position to become the leading domestic supplier.

Working with Technological Innovation

As it moves to cater to growing cobalt demand, First Cobalt announced a $7 million exploration program for 2018 (http://nnw.fm/sNR89). By combining existing data and fresh surveys, it will establish the potential of 13 mineralized sites with known historical production of cobalt and silver, with an eye to increasing its output. On Feb. 13, the company announced positive drill results from the historic Bellellen mine (http://nnw.fm/2hoUx) in Ontario's renowned Cobalt Camp. The results confirm the presence of high-grade cobalt and nickel along the 300-meter-long Bellellen vein system south of the historic mine.

"First assays from Bellellen drilling confirm the grades found in muckpile material sampled in 2017 and support our view that we now have a third area of interest in the Cobalt Camp," Mell stated in the press release. "The Bellellen structure has adequate strike length to remain a priority target. Our 2018 drill strategy is to test several new target areas to confirm the cobalt grades of known systems throughout the Camp and then focus on those of sufficient size to support large tonnage operations."

It's just one example of First Cobalt's forward-looking approach, embracing innovation throughout its business. Over a hundred years of mining data have been combined using digital techniques to establish the likely locations of deposits (http://nnw.fm/6b9H0). Artificial intelligence is being considered to accelerate the discovery cycle and allow new deposits to reach exploitation sooner. As a member of the Mineral Exploration Research Centre (MERC) and Metal Earth Project, the company is conducting regional geophysical surveys to increase its understanding of Canada's rich cobalt resources.

This focus on refinement, innovation and scientific rigor is visible at the company's cobalt extraction refinery. Ore-sorting tests and metallurgical studies are being used to ensure the plant's capabilities. The refinery has been located with room to expand into a larger refinery complex so that the company is not at risk of being limited by its original facilities.

Securing Future Extraction

The potential of First Cobalt's future is reflected in the confidence shown by investors. The company has recently secured $30 million dollars in financing.

This has allowed the company to acquire strategic mining claims (http://nnw.fm/pe0NZ) around its original territory, including a recent acquisition near the Silver Banner mine as well as ensure they are well positioned for their 26,500-meter 2018 drill program. Mell said of the purchase: "This area of North Cobalt is of particular interest as some of the more significant past-producing cobalt mines are nearby, including the Silver Banner mine where we reported high grade cobalt samples." Such purchases have made First Cobalt the largest land owner in the Cobalt Camp, dominating Canadian cobalt production.

The result has been a surge in the company's fortunes. Its share price increased by as much as 350 percent during 2017, and its market cap is now close to $200 million. This makes it the largest cobalt exploration company in the world by market cap. It's a status that has drawn the company international attention, and an interview with Mell featured prominently in a recent Guardian article on the cobalt industry.

First Cobalt's ambition extends beyond the Canadian mining regions, as it anticipates additional discovery from places outside the DRC, such as British Columbia, Idaho, Ontario and possibly Chile. This insulates the company from the risks inherent in working in the DRC, giving it a significant advantage over established competitors. As liberal environmentalists encourage ethical supply chains and conservatives seek to boost home-grown industries, the company is placed to benefit from political maneuvers and purchasing decisions on both the right and the left.

The electric vehicle and cobalt industries are booming. First Cobalt is one of the companies best placed to profit off this boom, but it's far from the only one.

Cobalt and Electric Cars: The Bigger Picture

The best recognized name in the electric car business is Tesla (NASDAQ: TSLA). The flamboyant showmanship of Elon Musk together with a commitment to innovative, sustainable technology have created a household name. With its range of cars and now a move into trucks, Tesla is forging the way for this young industry. Its continued growth, and the swell in electric technology it brings, will ensure that demand for cobalt continues to grow for the foreseeable future.

Mainstream car manufacturers are following Tesla's lead. The Chevrolet division of General Motors (NYSE: GM) sold more than 23,000 Bolt EVs in 2017, giving it the third largest sales of electric cars. GM has announced plans to launch 18 new all-electric vehicles by 2023, allowing the company to cater to a wider range of customers as the electric car goes mainstream. Like other manufacturers such as Tesla and BMW, GM's commitment to the market could help to drive up the profits of cobalt mining companies.

Among those companies is commodities manufacturer Glencore (OTC: GLNCY). Operating in over 50 countries, and with an annual revenue of $177.4 billion, it produces 28,300 metric tons of cobalt a year - around a third of the global supply. Though the company's reliance on the DRC may cause it some challenges, the sheer scale of its operations will ensure deals with the large car companies as they move toward battery power.

Like First Cobalt, eCobalt Solutions (TSX: ECS) (OTCQX: ECSIF) is looking to provide cobalt free of the environmental and ethical concerns bound up in mining the DRC. Working through a wholly owned subsidiary, it has established the Idaho Cobalt Project, the only near-term, environmentally permitted primary cobalt project in the United States. This will cater to growing international demand for cobalt and for ethically sourced resources. By getting in on the ground floor of American cobalt production, it will have an edge of stability as the cost of production in the DRC fluctuates.

The market for electric vehicles is growing, and with it the demand for cobalt. As political strife and ethical concerns hit traditional sources, North American cobalt companies will be particularly well-placed to serve a vital market and support a greener future.

For more information on First Cobalt Corp., visit: First Cobalt Corp. (TSX-V: FCC) (OTCQB: FTSSF) .

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, please visit https://www.NetworkNewsWire.com.

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.

NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.  The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.

NetworkNewsWire (NNW) is affiliated with the Investor Brand Network (IBN).

About IBN

Over the past 10+ years we have consistently introduced new network brands, each specifically designed to fulfil the unique needs of our growing client base and services. Today, we continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.

Please feel free to visit the Investor Brand Network (IBN) http://www.InvestorBrandNetwork.com

Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
+212-418-1217 Office
Editor@NetworkNewsWire.com
   
Media Contact:
FN Media Group, LLC
NNW@FinancialNewsMedia.com  
+1-(954)345-0611

http://www.NetworkNewsWire.com

Modal title

Also from this source

AI-Powered Service Robots Redefine Hospitality as Industry Innovators Lead the Charge

AI-Powered Service Robots Redefine Hospitality as Industry Innovators Lead the Charge

Facing ongoing labor shortages and rising consumer demands, the hospitality and food service sectors are increasingly turning to artificial...

Unlocking the Future of Hospitality with AI-Powered Robotics, Invaluable Industry Expertise

Unlocking the Future of Hospitality with AI-Powered Robotics, Invaluable Industry Expertise

As labor shortages persist and consumer expectations rise, service robots powered by artificial intelligence (AI) are transforming the hospitality...

More Releases From This Source

Explore

Automotive

Automotive

Mining & Metals

Mining & Metals

Mining & Metals

Mining & Metals

Mining

Mining

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.