Cobalt Outlook 2015: Market Entering Deficit Territory

Cobalt Outlook 2015: Market Entering Deficit Territory

Tesla Motors and its lithium-ion battery gigafactory definitely stole the show in the cobalt market this past year. Looking forward, it appears that increased demand from that facility and others will begin to push the market into deficit.

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Company News

Global Cobalt Settles Debt

Global Cobalt Settles Debt

Global Cobalt Corp. (TSXV:GCO,OTCBB:GLBCF,FRA:3P0) reported the issuance of shares for debt settlements with certain creditors, three of whom are directors and/or officers of the Company. The Company issued 1,047,300 common shares at a price of $0.05 per share.

Formation Metals to Complete PEA Regarding Battery Grade Cobalt Chemicals

Formation Metals to Complete PEA Regarding Battery Grade Cobalt Chemicals

Formation Metals Inc. (TSX:FCO) reported that it is moving forward with pursuing several opportunities resulting from the significant increase in the long term demand for cobalt used in rechargeable batteries. So far, the company has conducted internal studies to determine the viability of producing battery grade cobalt chemicals, developed a new mine plan and produced updated economics for its Idaho project.

Global Cobalt “Stands Out as Long Term Opportunity”, Says Chris Berry

Global Cobalt “Stands Out as Long Term Opportunity”, Says Chris Berry

Global Cobalt Corp. (TSXV:GCO) was named by Chris Berry as a "long term opportunity" in an interview with The Mining Report. He says, "It's too early to speculate on production possibilities, but the fact that the company is working to derisk a North American supply of cobalt should be of interest to investors focused on strategic metals."

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Market News

Chinese Billionaire Aiming to Beat Tesla in EV Market

A recent report from Bloomberg suggests that Chinese billionaire Jia Yueting is aiming to build electric cars and hopes to surpass Tesla Motors Inc. (NASDAQ:TSLA) in terms of building a broadly available electric vehicle.

‘Battery Super-plants’ to Impact Graphite, Lithium and Cobalt

Analyst Simon Moores said in a Benchmark Mineral Intelligence report that Tesla Motors Inc. (NASDAQ:TSLA), LG Chem Ltd. (KRX:051910) and Foxconn Technology Co. Ltd. (TPE:2354) are all in the midst of building "battery super-plants for the electric vehicle (EV) market."

Has the Cobalt Price Reached its Floor?

Metal Bulletin reported that some market participants think the cobalt price may have reached its floor. The price of the metal has stabilized for the last two weeks.

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