Categories: Energy / General Market Commentary
Topics: General Energy / General Market Commentary

Did Rio Tinto Just Launch A Secret Rush For This Metal?

Did Rio Tinto Just Launch A Secret Rush For This Metal?

Further to the second and third items above, the global clean energy movement and Minnesota mining might be closely related.

Because of one metal. That appears to be gearing up for a major exploration and development push.

Cobalt.

There’s been a growing buzz on cobalt around “the street” in recent months. Based on the observation that this minor metal is needed in lithium ion batteries that support green energy development.

The world’s big move to clean power has already boosted the lithium sub-sector substantially. With many stocks of lithium explorers and developers up nearly ten-fold in the last few months. (We’ll see how many of them actually find any significant deposits — but that’s another story.)

And indications are the same enthusiasm is spreading into the cobalt space.

Just look at the chart below, from the most recent monthly report of the London Metal Exchange. Showing a massive spike in trading volume in cobalt during November and December 2016.

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