The electric vehicle revolution is powered by cobalt. First Cobalt offers investors access to a North American pure-play cobalt company. Our strategy is to explore, develop and refine cobalt material in North America for sale back into the American EV market.
First Cobalt is a North American pure-play cobalt company whose flagship asset is the First Cobalt Refinery. Our strategy at First Cobalt is to explore, develop and refine ethically sourced cobalt within North America for sale back into the American battery market. We are focused on three strategic assets to execute on this strategy:
- The only permitted cobalt refinery in North America capable of producing battery materials
- The Iron Creek Project in Idaho, USA has an Indicated Resource of 2.2 million tonnes at 0.32% cobalt equivalent (0.26% cobalt and 0.61% copper) for 12.3 million pounds of contained cobalt and 29 million pounds of contained copper as well as an Inferred Resource of 2.7 million tonnes at 0.28% cobalt equivalent (0.22% cobalt and 0.68% copper) for an additional 12.7 million pounds of contained cobalt and 40 million pounds of contained copper. (November 2019)
- More than 50 past producing mines in the Canadian Cobalt Camp.
Our Board and Management teams are a diverse group of experienced mine-builders, mine-operators, financiers and company-makers, positioning First Cobalt to be at the forefront of the cobalt-driven battery movement in the coming years.
Why Invest in Cobalt
Cobalt is a hard, lustrous metal with high energy density, low thermal conductivity. Cobalt is used in certain rechargeable lithium-ion battery electrodes, specifically within the cathode, to provide stability and prolonged battery life.
Assuming a mere 10% of the 2026 NCM cathode market adopts the 8-1-1 chemistry, battery grade cobalt output, which was nearly 50,000 tpa in 2017, will have to increase more than 300% to 205,000 tpa to meet the cobalt demands of the entire battery industry.
Currently, the adoption timeline for commercial 8-1-1 NCM chemistry is estimated at 10+ years, while cobalt-free batteries are still a laboratory project. Despite some researchers attempting to find a NMC battery with zero cobalt composition, current estimates are that at least 10% cobalt must be used in battery cathode chemistry at all times due to safety and battery longevity reasons.
Over 90% of the world’s cobalt is currently mined as a by-product of copper or nickel operations. Our vision at First Cobalt is to become the largest primary cobalt producer outside the DRC and the most attractive cobalt stock on the market.