Expanding electrical vehicle market
projected to have 100 million EVs by 2030 requiring a 400% increase in annual production
90% of cobalt supplies come from copper (60%) and nickel mines (30%) that produce cobalt as a minor by-product with 90%+ of cobalt projects funded by Chinese corporations which threatens supply to non-Chinese customers
A robust and reliable supply chain is critical to meet manufacturing requirements for Gigafactories and avoid supply chain failure
While E-Transport is a key driver of demand for cobalt, energy storage system annual growth is projected to be 60% through 2030
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