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Electric vehicles gobble up cobalt


In terms of demand, electric vehicles have just overtaken phones as the main driver of cobalt demand.

In 2021, electric vehicle sales doubled compared to 2020, an increase of an enormous 22 percent. This accounts for 32,000 metric tons of cobalt demand growth, according to a Cobalt Institute report. By 2026, it is estimated that about half of the demand for the metal will come from the electric vehicle sector. And electric vehicles are revolutionizing green mobility. Cobalt is used as a key raw material in the cathodes of electric car batteries. Around 74 percent of the global electric car battery market includes battery chemicals containing cobalt. This is because cobalt ensures safety, performance and the best energy density, according to the Cobalt Institute.

As electric vehicles increasingly capture the market, there could be shortages of cobalt. While a total of 175,000 metric tons of cobalt were still needed in 2021, 320,000 metric tons per year are expected to be needed in the next five years. Growth of 70 percent is expected to come from the electromobility sector. The energy transition is also driving wind and solar energy. These sectors need a lot of silver and copper. If more wind turbines are built, more copper will also be in demand. Photovoltaic systems do not work without silver, and worldwide efforts to save fossil fuels are also relying on them. Subsidy programs and the lower prices for photovoltaic modules in recent years are also boosting demand.

Copper is the business of Hannan Metals – https://www.youtube.com/watch?v=vNLG9b_yZLU -. In addition, there is gold and silver, for example at the San Martin project in Peru.

Mawson Gold – https://www.youtube.com/watch?v=IxGNqlJ2SXg – owns the Rajapalot gold-cobalt project in Finland, as well as other gold projects.

Current corporate information and press releases from Mawson Gold (https://www.resource-capital.ch/en/companies/mawson-gold-ltd/ -) and Hannan Metals (https://www.resource-capital.ch/en/companies/hannan-metals-ltd/ -).

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.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 – 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/

Posted by on 25. May 2022. Filed under Internet, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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