TECHNOLOGY
he warned that western carmakers must wake up to the limited supply of cobalt in the world , identifying that recent activity from China and streaming agreements will leave companies struggling to catch up .
“ We saw that headline and I think he ’ s right in some regards . A number of Chinese companies are signing cobalt streaming agreements and essentially locking up cobalt supply ,” Mell says . “ That ’ s what we are doing with our North American operations . We locked up the cobalt supplies in Ontario and Idaho before any other company woke up to the potential of these camps . It ’ s a real differentiator for us .”
Currently , First Cobalt is not actively mining . Its portfolio contains a number of high potential exploration properties ,
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“ OUR VISION IS SIMPLE : TO MINE , REFINE AND SELL COBALT IN NORTH AMERICA . IT COULD BE TO APPLE , TO TESLA OR TO GM , IT DOESN ’ T MATTER WHO . THERE IS CURRENTLY NO DOMESTIC SUPPLY IN CANADA AND THE U . S AND I THINK THAT FIRST COBALT IS POSITIONING ITSELF TO BE THE FIRST ONE TO DO EXACTLY THAT ”
— Trent Mell , President and CEO of First Cobalt Corp
SEPTEMBER 2018