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Forget About Oil, Cobalt is the Resource of the Future

Strong demand for electric vehicles in China and Europe is expected to bolster the output of cobalt and copper in the Democratic Republic of the Congo’s mining sector. Today, the DRC is the Saudi Arabia or cobalt. 60-70% of the world’s cobalt originates there and China is becoming increasingly dominant along the entire supply chain of this strategically vital mineral. Eight out of 14 of the world’s largest cobalt mines are owned by Chinese companies.

Cobalt is an essential element in the production of batteries used in electric vehicles, aviation and various other electronics. Much like rare earths, cobalt is also considered a resource vital to many countries’ national security and key industries.

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