Cobalt ore congo portable#

This cobalt is produced as a by-product of Glencore’s nickel and copper mining projects. The company has multiple mines in the Democratic Republic of Congo, as well as mines in Australia and Canada. Glencore is the largest cobalt producer in the world. Top Cobalt Mining Stocks Glencore (OTC: GLNCY) This company’s growth potential is precisely why it’s on our list of the top cobalt stocks. Given that the estimated market value of cobalt is currently at $8.4 billion, FTMDF continues to be one of the front-runners in this industry. According to Fortune Mineral, the deposit contains 37.3 million kilograms of cobalt. Just recently, this cobalt mining company reported promising results from its 2021 drill program.

Cobalt ore congo portable#

Outside of Congo, the NICO Project is one of the world’s most advanced cobalt development projects, aiming to supply the rising demand for lithium-ion batteries for electric cars, portable gadgets, and stationary storage cells. It will produce cobalt, gold, bismuth, and copper from a proposed mine and concentrator in the Northwest Territories and a linked hydrometallurgical refinery in southern Canada. It could enable lithium-ion battery production in North America, as well as the production of other cobalt technologies. The company recently announced its completion with a total of 13 holes with varying depths. This means that its stock’s value is only partially tied to cobalt prices.įortune Minerals’ main source of cobalt is the NICO deposit in Canada’s Northwest Territories. It offers a very diverse portfolio of minerals. Fortune Minerals (OTC: FTMDF)įortune Minerals is another Canadian cobalt stock with investment potential. Keep an eye on this cobalt stock if you’re looking for an opportunity that could provide long-term growth. In addition to its increased revenue, profitability, and cash flow, the company issued a $0.15 quarterly cash dividend to be paid in June 2022. Wheaton Precious Metals stock has been solid this year, a great start earning $305 million in revenue and $210 million in cash flow during the first quarter. This means that Wheaton could offer more stability for investors, while still taking advantage of the financial potential that cobalt offers.

The company is particularly established in the silver market. Still, it also has streaming deals in other metals. Wheaton is banking on increased demand for cobalt in the future to make a profit. However, there is some risk involved in this deal. Afterward, Wheaton will continue to have access to 21.2% of the mine’s ongoing cobalt production.

This deal goes up to 31 million pounds of cobalt. This deal will provide Wheaton with an excellent potential to extend its portfolio into one of Canada’s largest and fastest-growing mining jurisdictions with the Goose Project in the Back River Gold District in Nunavut.