Elon Musk
Cobalt Mines
https://www.mining.com/web/elon-musks-worst-nightmare-child-labor-cobalt-supply/
The importance of this cannot be understated—in the lithium battery, there is more cobalt than lithium.
Tesla, Apple, Google, Toyota, BMW, General Motors, Nissan, Ford and many other corporate giants are going to be fighting over supply!
Hedge funds are also taking positions, with Chinese and Swiss funds buying up physical supply in order to sell at much higher prices in just a year or two.
At Wealth Research Group, we are taking positions in the sector, but since there aren’t any ETFs or futures exchanges where we can gain exposure to the metal, we initially had to look at nearly 60 lithium exploration stocks, and we could only find a total of 24 cobalt-related stocks on North American exchanges. While all 60 lithium exploration stocks own projects that are focused primarily on lithium, 19 of the 24 cobalt-related stocks were actually focused primarily on copper, nickel, gold or silver…
Only five companies with projects that were primarily focused on cobalt exploration were available, and two of them were located in the Democratic Republic of the Congo, a politically unstable region responsible for 60% of the world’s current cobalt mining supply and where child labor has become a major concern.
America’s largest corporations that use cobalt as a raw material are being pressured to ban cobalt imports from the Congo. Human rights organizations are demanding that they secure all cobalt supplies from ethical mining sources.
The company that Wealth Research Group found is advancing its Silver Centre and cobalt projects in Ontario, Canada.
One of its big investors is Robert Cross, a mining legend who is the founder of B2 Gold, a $3 billion company. They call him “the millionaire maker,” and when we spoke with him, he told us First Cobalt was his largest single position in the entire sector…