The energy storage revolution is propelling high demand for the key battery minerals. Battery giants are scaling up battery production with mega-factories and are actively acquiring raw materials through off-take agreements.
Traditional metal miners are scaling back production resulting in supply constraints in by-product metals such as cobalt critical to battery chemistry.
Global Energy Metals is quickly leveraging its strategy of material supply against global estimates that see consumption for refined cobalt to exceed 100,000 tonnes in 2017. While demand growth for most metals has stalled in recent years, cobalt demand continues to grow strongly propelling the price to decade high with demand brought on by the energy storage revolution. In addition to the demand from rechargeable batteries used in consumer electronics continues to be robust, the prospect of a booming Electric Vehicle market is expected to further increase upside demand potential with some estimates indicating that demand for cobalt to grow at an average rate of approximately 5-8% per annum for the next several years