Published: January 16, 2018 |

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Vancouver’s Cruz Cobalt announced that plans to go all in at its projects in North America in 2018, particularly at its three British Columbia-based properties, as the junior miner bets on the growing demand for ethically sourced cobalt, a key ingredient in the batteries used in electric vehicles.

Company’s President Mr. James Nelson, said that “We plan to be active on all of our Canadian and US cobalt projects in 2018, adding the company is ready to kick off an airborne work program at its BC assets.”

Cruz noted the company is “very optimistic” about the year ahead as it now has with more cash in the bank than at any other time, and cobalt prices are at nine-year highs.

The metal, which together with lithium rode the feverish buzz around electric vehicles and growing concerns about future supply availability, became the best performing commodity of 2017 (up almost 130 percent in the year).

The firm currently has nine cobalt projects located throughout North America: four in Ontario, three in BC, one in Idaho and one in Montana.

Over half of the world’s cobalt comes from the Democratic Republic of Congo, where artisanal miners mine some of it by hand. That’s likely to come under greater scrutiny this year, experts including consultancy CRU say, as more of the metal is expected to enter electric vehicle supply chains.

Source: Steel Guru

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