SAN FRANCISCO, Nov. 22, 2017 (GLOBE NEWSWIRE) -- Forecasts of an electric vehicle boom are behind skyrocketing demand for cobalt, a major component in batteries. In this interview with The Energy Report, Anthony Milewski, CEO of Cobalt 27 Capital Corp. (TSX-V: KBLT ) (OTC:CBLLF) (FSE:27O), discusses the company's unique position as a two-pronged pure-play on cobalt.
Included in this interview is: Cobalt 27 Capital Corp.
The Energy Report: Would you bring us up to date on what's happening in the cobalt market?
Anthony Milewski: A few weeks ago was LME Week in London, which is the annual gathering of producers and consumers for not just cobalt but for a variety of base metals. It's an international gathering with people from all over the world—China, United States, Europe, Africa.
And I would say that it's really the mating season for cobalt. What that means is cobalt contracts are typically 12-months long, although there's a lot of variation. Many of the next 12 months of contracts are set during this week or discussed, if not signed. It's a major week for the consumers and producers to get together and have a meeting of the minds around what the next 12 months will look like for cobalt.
TER: What was the outcome of these meetings?
AM: The first takeaway is that there's tremendous new demand coming into the market because of the electric vehicle. All of the talk and all the meetings I was in was around the impact of electric vehicle sales and penetration on the cobalt market.
A second conversation that's going on is about future supply, security of supply, where does supply come from to meet that new demand that's coming into the market and going to come in large quantities in future years.
And then, finally, the questions are really about ethical sourcing out of the Congo and making sure that conflict cobalt doesn't make its way into the value chain. Not all cobalt is sourced equal out of the Congo. You have first-tier producers like Glencore International Plc that produce a high-quality, trustworthy material. The issues associated with conflict cobalt are more focused around individuals, artisanal mining and some of the related problems.
Continue reading this interview: Cobalt Pure-Play Hitched to Electric Vehicle Boom
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DISCLOSURE:
Cobalt 27 Capital Corp. is a billboard sponsor of Streetwise Reports. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclaimers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Cobalt 27 Capital Corp. had final approval of the content and is wholly responsible for the validity of the statements. Opinions expressed are the opinions of Anthony Milewski and not of Streetwise Reports or its officers. Anthony Milewski: I was not paid by Streetwise Reports to participate in this interview. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview. I own shares of the following companies mentioned in this interview: Cobalt 27 Capital Corp.
The full disclosure is provided at the end of the published article: Cobalt Pure-Play Hitched to Electric Vehicle Boom
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