US policy to secure critical minerals like Cobalt Prices of base metals like copper, and the so called critical minerals, like cobalt, continue to soar. Geopolitical tensions have also increased, hurting globalization and ultimately punishing the consumer. The Biden-Harris administration in the US have also announced a move called “Securing a Made in America Supply Chain for Critical Minerals”. The goal of this is to reduce dependency on foreign sources of “critical minerals” – a very strong catalyst for penny stocks that mine these exact critical minerals.
The announcement mentions the growing need for these minerals due to the green revolution:
As the world transitions to a clean energy economy, global demand for these critical minerals is set to skyrocket by 400-600 percent over the next several decades, and, for minerals such as lithium and graphite used in electric vehicle (EV) batteries, demand will increase by even more—as much as 4,000 percent.
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