TSXV:FCO.H - Post by User
Post by
reeJoeyon Dec 29, 2017 9:30pm
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Post# 27249664
Dec. USGS cobalt report
Dec. USGS cobalt report Some reading for the long New Years weekend. There will be a quiz on Tuesday! A this-month USGS report on cobalt--no more objective and authoritative source for information. It is really obvious how eCobalt's production is essential for addressing the dependence on other countries that puts the US supply of this critical mineral at risk. The sooner eCobalt production can begin the better in terms of national security--luckily it will be the first out of the gate. The timing of the Trump EO couldn't be better. This is one stock I am holding long term. Any dips and I add. I think this passage in the report needs to be highlighted.
"The cobalt mined in the United States represented less than 1 percent of the estimated world cobalt mine production that year, while the U.S. consumed an estimated 10 percent of world refined cobalt supply (Cobalt Development Institute & World Bureau of Metal Statistics, 2017).
The United States is a leading consumer of refined cobalt, cobalt scrap and cobalt- containing materials and products. Based on data published by the USGS, U.S. net import reliance as a percentage of apparent consumption averaged 78 percent between 2000 and 2015, meaning that more than three-quarters of U.S. supply has been from imports and stock releases of refined cobalt. The remainder — less than one quarter of U.S. supply — has been from domestic or imported scrap. Therefore, the United States is ultimately dependent on cobalt mined in other countries.."
https://minerals.usgs.gov/minerals/pubs/commodity/cobalt/cobalt-supply-security.pdf