EV battery demand drives first U.S. cobalt mine in decades
Jervois Global Ltd. is starting the first U.S. cobalt mine in Idaho on Friday, according to chief executive Bryce Crocker. The mineral sits “at the top of the table” in terms of national security, said Crocker. “There aren’t many new sources of supply, particularly in stable jurisdictions, which is why this mine in the U.S. is very important,” Crocker said.hasn’t been produced in the U.S. since at least 1994, according to data from the United States Geological Survey.
Cobalt is a crucial component in EV batteries and is on the government’s critical-minerals list. The U.S. sees widespread adoption of electric vehicles as key to its efforts to combat. Both California and New York, among the most populous states, have passed laws that will ban the sale of new gasoline-powered vehicles in the coming decades.
The level of urgency among manufacturers to secure supplies “is profoundly different than it was even two or three years ago,” said Crocker in an interview. “It’s now very elevated in terms of focus at the director and the board level,” he said.
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