Electric cars have become part of our lives

In Europe, electric vehicles sold in 2022 accounted for a good 20 percent. In China, the figure was already 27 percent in the same period. E-cars and plug-in hybrids accounted for more than seven percent in the USA. For a mass market to emerge, the cooperation of all stakeholders is necessary. Utilities in particular play an important role. Lithium, copper, nickel, cobalt, the batteries need raw materials, and the trend is rising. Currently, the industry is still suffering from high raw material prices and inflation. Supply chains are also not functioning properly, and batteries are in short supply. Countries dependent on China are increasingly trying to produce components for electric cars themselves. As a result, automakers are also investing in the battery market and in the extraction of raw materials.

Batteries of the future need cobalt, among other things – a special raw material, because the largest reserves are located in the politically problematic Congo. Cobalt is one of the strategic raw materials in battery production. There is no sensible alternative for cobalt. Demand for cobalt is expected to grow by around nine percent annually over the next few years. Even if the cobalt price is not that strong right now, in the long term, cobalt demand is generally expected to be robust. In addition to Congo, Australia and Indonesia are of central importance for cobalt supply.

However, cobalt is also available in Ontario, for example, at the Canada Nickel Company’s – https://www.commodity-tv.com/ondemand/companies/profil/canada-nickel-company-inc/ – Crawford nickel-cobalt project.

And in Finland, Mawson Gold – https://www.commodity-tv.com/ondemand/companies/profil/mawson-gold-ltd/ – owns the Rajapalot gold-cobalt project.

Current corporate information and press releases from Mawson Gold (- https://www.resource-capital.ch/en/companies/mawson-gold-ltd/ -) and Canada Nickel Company (- https://www.resource-capital.ch/en/companies/canada-nickel-company-inc/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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