Millions of electric cars will consume raw materials

Around 15 million electric cars are expected to populate German roads by 2030. The boom in electromobility has not only affected Germany. Most electric cars are driven in China, followed by the USA and Germany. Worldwide, the number of registered electric vehicles was around 10.9 million, and the trend is rising. This development will consume a lot of raw materials, above all lithium and also cobalt. As a result, lithium prices have reached their highest level in three years. Lithium consumers are particularly interested in long-term contracts. Because lithium, "white gold", is a scarce commodity.

Lithium is available in Mongolia, for example. Here, ION Energy – https://www.youtube.com/watch?v=FpvLzzNsJ1A&t=64s – owns the Baavhai Uul and Urgakh Naran lithium projects. The lithium-bearing properties cover a good 100,000 hectares. Mining conditions in Mongolia are also favourable. In the lithium sector, the takeover merry-go-round is turning.

Recently, Millennial Lithium – https://www.youtube.com/watch?v=4iftwdjuCAU – was taken over by Lithium Americas. Because lithium projects are in demand. Another important material in the field of electric mobility is cobalt. Cobalt hydroxide prices have skyrocketed more than 80 percent from the beginning of 2021 to the fall alone. One ton of cobalt now costs around 63,000 US dollars. The demand for cobalt is driven in particular by vehicles with a longer range. Cobalt is thus also one of the raw materials that is said to have a bright future and strong demand.

Cobalt is owned by Mawson Gold – https://www.youtube.com/watch?v=3gtXPK7de0I – at its Rajapalot gold-cobalt project in Finland. The portfolio of the sustainable company also includes gold properties in Australia.

Latest corporate information and press releases from Mawson Gold (- https://www.resource-capital.ch/en/companies/mawson-gold-ltd/ -) and Millennial Lithium (- https://www.resource-capital.ch/en/companies/millennial-lithium-corp/ -).

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