Demand for high-efficiency batteries is leading to growth in the cobalt industry, but new ventures are threatened by the Democratic Republic of Congo’s (DRC) dominance in mining and China’s in processing. Some companies are now trying to break this stranglehold, with First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) (FTSSF Profile) establishing the largest integrated operation in North America and eCobalt Solutions, Inc. (OTCQX: ECSIF) joining in with the construction of a mine in Idaho. Katanga Mining Ltd Ord (OTC: KATFF) dominates the DRC-sourced market despite legal troubles besetting its mining operation in the country. The backing of parent company Glencore PLC ADR (OTC: GLNCY) may give Katanga the resources to weather the storm and allow these linked companies to become the world’s largest producers in cobalt. Meanwhile, investment companies such as Cobalt 27 Capital Corp. (TSX.V: KBLT) are investing in both cobalt and its producers, showing the wider faith the market has in this mineral.
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About First Cobalt Corp.
First Cobalt aims to create the largest pure-play cobalt exploration and development company in the world. First Cobalt controls over 10,000 hectares of prospective land covering over 50 historic mines as well as mineral processing facilities in the Cobalt Camp in Ontario, Canada. The First Cobalt Refinery is the only permitted facility in North America capable of producing cobalt battery materials. First Cobalt seeks to build shareholder value through new discovery, mineral processing and growth opportunities, with a focus on North America. For more information, visit the company’s website at www.FirstCobalt.com.
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