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Released October 11, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--After roughly three decades of silence, the U.S. cobalt mining and processing market is roaring again. The skyrocketing demand for the mineral, which is crucial to the production of lithium-ion batteries, now has a tangible result: A domestic mine is producing cobalt. Industrial Info is tracking about $1.2 billion worth of active projects across the U.S. related to the mining and processing of cobalt, and more than $1.1 billion worth related to its smelting or use in lithium-ion batteries.
Jervois Global Limited (Cremorne, Australia) made history last week when it began operations at its primary cobalt mine in, appropriately enough, Cobalt, Idaho. The tiny community, which sits about 10 miles east of Mount McGuire, now lays claim to the first operational cobalt mine since at least 1994, according to the U.S. Geological Survey. By the end of first-quarter 2023, the mine is expected to meet its nameplate capacity of 437,500 tons per year.
Jerovis already is considering an expansion of the mine's tailings waste-storage facility next year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can read detailed project reports on the mine and its proposed expansion; subscribers to Industrial Info's GMI Plant Database can read a detailed plant profile for the facility.
Click on the image at right for a map of active and proposed cobalt-mining projects across the U.S.
Earlier this year, the U.S. Department of the Interior officially recognized the importance--and domestic scarcity--of cobalt when it composed its list of critical minerals, on which cobalt sits alongside aluminum, lithium, nickel, palladium, platinum, tin, zinc and many others. Some of the strongest demand is coming from the automotive industry, which is planning to increase its production of electric vehicles (EVs) in the coming years; earlier this summer, General Motors Company (NYSE:GM) (Detroit, Michigan) and Ford Motor Company (NYSE:F) (Dearborn, Michigan) cut out the middleman by agreeing to buy some of their battery metals directly from producers.
Within an hour's drive of the Jerovis project, Electra Battery Materials Corporation (Toronto, Ontario) is evaluating plans for a proposed cobalt and copper mine in Salmon, Idaho. Although nascent, the project shows promise: The company recently confirmed the existence of a newly discovered cobalt zone at its nearby Ruby prospect. Subscribers can read more in a detailed project report.
"Significant investments are being made in North America to onshore the electric-vehicle supply chain, and the State of Idaho has an important role to play in developing a domestic supply of critical metals such as cobalt," said Trent Mell, the chief executive officer of Electra Battery Materials, in a press release. "We are very excited that drilling of our Ruby prospect supports our thesis that there are new cobalt targets in the Idaho Cobalt Belt."
United States Strategic Metals LLC (St. Louis, Missouri), formerly known as Missouri Cobalt LLC, is proposing a redevelopment of the Madison Mine in Fredericktown, Missouri, which closed in 1960, as an underground mine that would produce 5 million pounds per year of cobalt, 6 million pounds per year of nickel, and 22 million pounds per year of copper concentrate over a 15-year mine life. Earlier this year, Glencore plc (Baar, Switzerland) signed a long-term off-take agreement for all of the company's products, which include cobalt and nickel sulfates, lithium products and copper cathode. Subscribers can learn more from Industrial Info's project report.
Prior to the Jerovis cobalt mine, the only domestic supply came from "recycled" cobalt, which was drawn from spent lithium-ion batteries and other materials. Li-Cycle Holdings (NYSE:LICY) (Toronto, Ontario) expects to finish construction next spring on a hydrometallurgical refinery hub in Rochester, New York, which is designed to process 35,000 tons per year of "black mass," or dismantled and shredded battery material, into cobalt, nickel and copper sulfates, among other materials.
Subscribers can learn more from a detailed project report, and from Industrial Info's September 29, 2022, article - More Lithium-Ion Battery Recycling on Way to U.S..
"During the quarter, we invested $82 million in capital expenditures, with the majority of this investment allocated to securing equipment for the continued construction of our Rochester Hub," said Debbie Simpson, the chief financial officer of Li-Cycle, in a recent quarterly earnings-related conference call. "With much of our procurement needs having largely met, we expect the majority of our future capital expenditures will be focused on construction for the continuous build-out of our Rochester Hub."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on active and proposed projects across the U.S. related to the mining and processing of cobalt. Subscribers can click here for a full list of reports on active and proposed projects across the U.S. related to cobalt's smelting or use in lithium-ion batteries.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Jervois Global Limited (Cremorne, Australia) made history last week when it began operations at its primary cobalt mine in, appropriately enough, Cobalt, Idaho. The tiny community, which sits about 10 miles east of Mount McGuire, now lays claim to the first operational cobalt mine since at least 1994, according to the U.S. Geological Survey. By the end of first-quarter 2023, the mine is expected to meet its nameplate capacity of 437,500 tons per year.
Jerovis already is considering an expansion of the mine's tailings waste-storage facility next year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can read detailed project reports on the mine and its proposed expansion; subscribers to Industrial Info's GMI Plant Database can read a detailed plant profile for the facility.
Click on the image at right for a map of active and proposed cobalt-mining projects across the U.S.Earlier this year, the U.S. Department of the Interior officially recognized the importance--and domestic scarcity--of cobalt when it composed its list of critical minerals, on which cobalt sits alongside aluminum, lithium, nickel, palladium, platinum, tin, zinc and many others. Some of the strongest demand is coming from the automotive industry, which is planning to increase its production of electric vehicles (EVs) in the coming years; earlier this summer, General Motors Company (NYSE:GM) (Detroit, Michigan) and Ford Motor Company (NYSE:F) (Dearborn, Michigan) cut out the middleman by agreeing to buy some of their battery metals directly from producers.
Within an hour's drive of the Jerovis project, Electra Battery Materials Corporation (Toronto, Ontario) is evaluating plans for a proposed cobalt and copper mine in Salmon, Idaho. Although nascent, the project shows promise: The company recently confirmed the existence of a newly discovered cobalt zone at its nearby Ruby prospect. Subscribers can read more in a detailed project report.
"Significant investments are being made in North America to onshore the electric-vehicle supply chain, and the State of Idaho has an important role to play in developing a domestic supply of critical metals such as cobalt," said Trent Mell, the chief executive officer of Electra Battery Materials, in a press release. "We are very excited that drilling of our Ruby prospect supports our thesis that there are new cobalt targets in the Idaho Cobalt Belt."
United States Strategic Metals LLC (St. Louis, Missouri), formerly known as Missouri Cobalt LLC, is proposing a redevelopment of the Madison Mine in Fredericktown, Missouri, which closed in 1960, as an underground mine that would produce 5 million pounds per year of cobalt, 6 million pounds per year of nickel, and 22 million pounds per year of copper concentrate over a 15-year mine life. Earlier this year, Glencore plc (Baar, Switzerland) signed a long-term off-take agreement for all of the company's products, which include cobalt and nickel sulfates, lithium products and copper cathode. Subscribers can learn more from Industrial Info's project report.
Prior to the Jerovis cobalt mine, the only domestic supply came from "recycled" cobalt, which was drawn from spent lithium-ion batteries and other materials. Li-Cycle Holdings (NYSE:LICY) (Toronto, Ontario) expects to finish construction next spring on a hydrometallurgical refinery hub in Rochester, New York, which is designed to process 35,000 tons per year of "black mass," or dismantled and shredded battery material, into cobalt, nickel and copper sulfates, among other materials.
Subscribers can learn more from a detailed project report, and from Industrial Info's September 29, 2022, article - More Lithium-Ion Battery Recycling on Way to U.S..
"During the quarter, we invested $82 million in capital expenditures, with the majority of this investment allocated to securing equipment for the continued construction of our Rochester Hub," said Debbie Simpson, the chief financial officer of Li-Cycle, in a recent quarterly earnings-related conference call. "With much of our procurement needs having largely met, we expect the majority of our future capital expenditures will be focused on construction for the continuous build-out of our Rochester Hub."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports on active and proposed projects across the U.S. related to the mining and processing of cobalt. Subscribers can click here for a full list of reports on active and proposed projects across the U.S. related to cobalt's smelting or use in lithium-ion batteries.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
