Researchers have discovered a ‘Goldilocks zone’ at the base of the earth’s crust where temperature allows for metals to be transported to shallower levels near the surface.
Despite the challenges the industry dealt with in 2021, the forecast value for total provincial mining production in the province reached an all-time high of C$12.6 billion.
Benedikt Sobotka said that the surging price of the metal, which rose by 119% in 2021, was giving a very clear message: the market is severely short of cobalt, a key ingredient in the batteries that power EVs.
Unless there’s been a major decoupling of copper, zinc, nickel, aluminum prices and Chinese manufacturing activity, declines of as much as 40% may be in the offing.