Tesla deal 'hugely encouraging for Cobalt miners' - Mining Capital's Alastair Ford
Mining Capital's Alastair Ford talks through the deal with electric car firm Tesla and energy company Neoen to build the world's largest lithium ion battery in Australia.
''Cobalt companies are perhaps most under the radar when it comes to lithium batteries because they can't be built without cobalt at the moment and cobalt is a more complex metal to get hold of from a mining perspective than lithium is'', Ford says.
''Cobalt almost exclusively comes as a by-product of copper mining and what we've seen lately in the cobalt industry is that prices have shot up because copper's not being produced as much as it was''.
Ford adds that while cobalt production has slowed demand has rocketed because of this electric battery demand.
Talking through a couple of names in the Cobalt space and those set to really benefit from the upswing in demand, he discusses Metal NRG (LON:MNRG), Strategic Minerals (LON:SML) and what they're up to at Hanns Camp in Australia as well as Greatland Gold (LON:GGP) among a number of others.