With global electric vehicle (EV) demand growth creating the potential for tight supplies in battery metals such as cobalt, multinational companies and industrialized nations are working to secure these critical metals as prices are projected to rise.
- The growing market for electric vehicles has led to much higher demand for battery metals such as cobalt, lithium and nickel.
- As the largest producer of EVs and largest consumer of battery metals in the world, China is aggressively looking to secure additional supplies of these critical minerals.
- Savvy companies are looking to lock in long-term supplies of battery metals.
Driven by the technological advances and environmentally friendly advantages offered by electric vehicles, the long-awaited EV revolution seems to be taking hold. Numerous global corporations are competing for access to limited supplies of battery metals. Prospective cobalt producer Pacific Rim Cobalt Corp. (OTCQB: PCRCF) (CSE: BOLT) (PCRCF Profile), which just released a detailed corporate update, looks to be in an ideal position to supply those corporations with cobalt. Major miners such as BHP Group Limited (NYSE: BHP), Freeport-McMoRan Inc. (NYSE: FCX) and VALE S.A. (NYSE: VALE) could play a role in growing the global supply of nickel, cobalt and lithium. Apple Inc. (NASDAQ: AAPL) took the extraordinary step of looking for direct supplies of cobalt last year, which shows how heated the battery metals market has become.
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About Pacific Rim Cobalt Corp.
Pacific Rim Cobalt Corp. is a Canadian publicly listed company currently focused on the development of cobalt projects within Indonesia. The company believes cobalt will be the next dominant investment trend related to the critical components of lithium-ion batteries. Cobalt is currently in a global supply deficit, has a vulnerable supply chain, and is part of an emerging sector with extraordinary potential. For more information, visit the company’s website at www.PacificRimCobalt.com.
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