Battery Metals Index, composed of 10 lithium and 10 cobalt companies, has rallied 56% over the past year, with some company valuations surging more than 100%. With an implied shortage of lithium and cobalt in the market, we examine which producing companies are best positioned to rise from this battery frenzy.
Written by Alex Cutulenco and Jassie Bhathal
While automakers worldwide are racing to produce electric vehicles (EVs), battery metals continue to climb as both lithium and cobalt see ever-increasing demand. The forecasted under-supply of battery metals is further complicated by conflict-ridden Congo, which supplies nearly half of the world’s cobalt, as it has recently been under scrutiny for inhumane working conditions and employing child labour.
Industry Highlights
Notable Performers
eCobalt Solutions Inc. (PINK:ECSIF /TSX:ECS)
eCobalt Solutions Inc. (“eCobalt”) is a mineral exploration and development company with properties in Canada, the United States, and Mexico. eCobalt’s stock price has more than doubled year to date, as it received financing to develop its primary asset, the Idaho Cobalt Project (ICP), which is the only near-term and fully permitted primary cobalt deposit in the United States.
