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Cobalt Prices On The Rise Amidst Ethical Concerns

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Companies like Apple and Samsung, among others, made commitments to find ethical supply sources in the near future. They will have to dig a little deeper because there are not a lot of new copper and nickel mines coming on stream, says Hattan. There is only one in the U.S. that I am aware of, Formation Metals out of Idaho, that is one or two years away from going into production. Based on the numbers we see there is definitely going to be a short-term squeeze. By the first half of next year, I would be very surprised if the market doesnt reach at least 16-17 dollars per pound, for battery grade material. The average price of cobalt has been $18-20/lb over the past 15 years. For the metal to go back to these levels in 2017 is very realistic. In two years, I could see it trading as high as $25/lb---https://news.metal.com/newscontent/100700616/cobalt-prices-on-the-rise-amidst-ethical-concerns