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link : DR Congo Will Be Losing Its Monopoly On Cobalt
DR Congo Will Be Losing Its Monopoly On Cobalt
Lynsey Chutel, Quartz: Everyone wants cobalt, but few want to get tangled up in the world’s largest producing nation
For too long, the Democratic Republic of Congo has known no competition in the cobalt market, to its detriment. The metal, which used to be just a byproduct of nickel and copper mining, is fast becoming one of the core ingredients of our technology-driven lifestyles. The instability in the DR Congo, however, is driving some investors to look to much smaller but more reliable cobalt
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Earlier this year, Canada began to notice the makings of a cobalt rush, starting in the town of Cobalt, Ontario—named for the mineral that was discovered there. More than a century ago, the region was the site of an old-fashioned silver rush, but its resources were soon eclipsed by Africa’s offering. Prospectors are again returning to the town of Cobalt: By May this year, more than a dozen mining companies had staked their claim in the Canadian town, the Northern Prospectors Association told Canada’s CBC .
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WNU Editor: Cobalt can be extracted elsewhere .... albeit at a higher price. But if DR Congo can no longer provide an environment where investments are protected .... that advantage will be busted.
Earlier this year, Canada began to notice the makings of a cobalt rush, starting in the town of Cobalt, Ontario—named for the mineral that was discovered there. More than a century ago, the region was the site of an old-fashioned silver rush, but its resources were soon eclipsed by Africa’s offering. Prospectors are again returning to the town of Cobalt: By May this year, more than a dozen mining companies had staked their claim in the Canadian town, the Northern Prospectors Association told Canada’s CBC .
Read more ....
WNU Editor: Cobalt can be extracted elsewhere .... albeit at a higher price. But if DR Congo can no longer provide an environment where investments are protected .... that advantage will be busted.
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