Gold is becoming more valuable as 'Cobalt'

Once upon a time, in search of gold from the various corners of the world, the miners from the earthquake rushed to West America. In the middle of the interval, they have started to throng there for several decades. Now it is not gold, because of nickel national metal cobalt.There has been no interest in digging the cobalt in the United States over the past several decades. But recently, some mining companies have demanded to investigate the silver-blue ore mineral in Idaho, Montana and Alaska. They said this as the need for mineral extraction, that cobalt mineral lithium-ion provides the main material for the production of mineral batteries. Which are the main power of the electric device and electric vehicle.George Happell, senior analyst at the CRU Group, London Research Institute, said that in the past, the supply of cobalt was dependent on copper and nickel market. Because the cobalt was lifted along with these two precious miners. But the situation is currently changing. The price of cobalt is increasing every year and its use is increasing by 8 to 10 percent, and at the same time it also has changed the concept of product as a commodity product.Research firm CRU estimates that around 300 companies are currently searching for cobalt mining in the world.

The genetically engineered giant like Glyncoo has also increased the production of cobalt in Congo. Most of the world's cobalties are produced from this country. On the other hand, in the last four decades in the United States in the first half of 2014, limited production of cobalt has started. In the spring, Canada-based company Fast Cobalt Company bought a cobalt mine in Idaho, USA and is expected to improve further in the next three years.Trent Mail, chief executive of Fast Cobalt Company, said that Kobalt's mine is now at the center of the eye at all than copper or any other metal. In fact, miners like us had never searched for Kobalt before. There are plenty of cobalt in the world. We are now running behind it as a miner.According to the CRU, a total of 75 thousand tonnes of cobalt was used in 2011. However, this year's use will be predicted to exceed 1 million 22 thousand tons.At present, every pound cobalt costs 32 dollars. It is estimated that this year's price will exceed 40 dollars. In 2011, every pound cobalt was worth only $ 20. Although its production will increase in the next few years and it will be possible to provide its demand. Experts are of the opinion that it may occur in the year 2022.E-Cobalt Company's Fiona Grant Ledar said that the dynamic market of Cobalt helped to increase self-confidence. After several arguments in the 1990s, it is now finally planned to revive its own cobalt mines in Idaho. Even before the end of next year, production will start from here.He also said that Cobalt's market is as strong now as it was never before. We have already received many positive feedback from investors, potential partners and potential workers.

Cobalt is usually collected using explosives in the mine. It is then filtered, mixed with metal, compound or chemically. Then it is used in various products like jet engine, drone and battery.Meanwhile, Missouri Cobalt Company said it will start producing cobalt from the old Sissar mine in Medina, Missouri, this summer. It is estimated that there are about 35 million pounds of cobalt reserves in the mine. From the market to North America, it is the largest cobalt reserves.More than 60 percent of the world's cobalt is in the mines of Kongo. However, China provided the cobalt paid as the world's major country. China hopes that they will always be major in providing refunded cobalt. And with that goal, they started the construction of refining factories in Europe, North America or even Asia.