cobalt

“Cobalt has a very highly concentrated supply in the Democratic Republic of Congo, about two-thirds of existing production, so, you know, the rate at which cobalt's coming out of existing mines, and two-thirds of reserves, the total amount of cobalt The total a…”

“Something like 15 plus percent of cobalt that's been estimated coming out of cobalt coming out of Congo is, is sourced in that manner.”

“We'd order it as nickel followed by lithium followed by cobalt followed by copper.”

“Russia's the number two nickel producer in the world. It's also the number two Cobalt producer in the world.”

“So cobalt's the best to do that. And nickel is a reasonable second, a fairly close second. And there's just a huge drop to the third best, best cathode material. And that's probably iron phosphate.”

“There's rarer metals, lithium being the by far most obvious one. But also things like cobalt and zinc and nickel where You know, we see in most cases global supply being sufficient to meet the needs of the energy transition, but just an enormous concentration …”

“But with our current battery technology, it would just be way too expensive To back up the entire electric grid. Plus, it would require more materials like lithium and cobalt than we have sitting around right now.”

“But just to contextualize the scale of the challenge here, we mine around five times as much copper as we do those other three minerals, lithium, nickel, and cobalt combined.”

“For most of these electric vehicle batteries of all of the minerals is going to be nickel. And then lithium and cobalt probably fall in second, but the single biggest number to shoot for is the nickel itself, and that's a problem because most nickel is coming …”

“On the refining side, China controls 80% of manganese refining, more than 70% of cobalt and nickel refining, more than 60% of lithium refining. And then you get to the most valuable components, the cathodes, the anodes, right? China controls more than 75% of c…”

“So the top producers of oil in the world, the US, Saudi Arabia, and Russia, each produce roughly 10% of global crude oil supply. The top producer Of lithium, of cobalt, of rare earths. Each of those, the top producers, each of those produces more than half, an…”

“So, 80% of lithium comes from Australia, China, and Chile, where 70% of cobalt comes from the Democratic Republic of Congo.”

“The Duluth complex actually where New Range is located, which is in northeastern Minnesota, contains 95% of America's nickel, 88% of Cobalt and 33% of our copper.”

“With the recent crash of the cobalt price and nickel For all sorts of reasons, and that's the topic for a whole different discussion, but particularly those two metals with the depression on their prices, our project remains profitable, and the reason it's pro…”