Mississauga, ON -- (SBWIRE) -- 11/20/2017 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Found Cobalt? First Cobalt Starts Process of Assessing Muckpiles."
Companies mentioned in this article include First Cobalt (TSX-Venture:FCC)(OTCQB:FTSSF), CobalTech Mining (TSX-Venture:CSK) and Cobalt One (ASX listed:CO1).
Article Excerpt:
Swelling global demand for cobalt at the hands of a burgeoning electric vehicle market has resulted in prices for metal with the atomic symbol Co essentially doubling since last November. It's also resulted in miners and exploration companies double-timing it to identify cobalt resources in a bid to capitalize on what is expected to be a robust industry for the foreseeable future.
The potential supply shortfall is underscored by a slew of initiatives of major automakers to implement strategies to increase EV production now and going forward. While Tesla (NASDAQ:TSLA) is always in the headlines when it comes to EVs, they are by no means the only player and could represent only a small portion of the market with its few models considering Volkswagen plans to produce three million EVs annually by 2025, Volvo is phasing out fossil-fueled cars and going all-electric in 2019, Daimler planning 50 EV models by 2022 and so on and so on.
Understanding that cobalt is a primary component in the rechargeable batteries powering EVs, lends some color as to why analysts are forecasting the spike in demand of the metal generally produced as a byproduct of mining other metals like nickel and copper. The situation is exasperated by the fact that over 60 percent of the world's cobalt supply comes from the Democratic Republic of Congo, an African country that has earned the ire of global human rights watchdog Amnesty International for sometimes failing to provide oversight and regulate violations of worker's rights and child labor laws.
The full version of this article can be found at:
http://www.allpennystocks.com/aps_ca/special-reports/811/found-cobalt-first-cobalt-starts-process-of-assessing-muckpiles.htm
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