![]() WPM stock price has risen 11% so far this year. Wheaton’s production quota will drop to 21.2% of cobalt production once 31 million pounds of cobalt are delivered. The company purchased a 42.4% stake in Voisey’s Bay cobalt mine in Canada from Brazil-based Vale (NYSE: VALE) in 2020 to boost cobalt exposure. Soaring cobalt prices and increasing production rates could increase the battery metal’s share of revenue going forward. Gold and silver still dominate its portfolio with 98% of 2021 revenue coming from gold and silver streams and the remainder being cobalt sales. WPM stock offers investors leverage to underlying precious metals through pre-determined long-term contract prices that shield inflationary pressures. Wheaton Precious Metals is a Canada-based precious metals streaming company that is a world-class non-direct cobalt play. That said, the company is holding onto “dirty” coal assets and this frustrates investor groups with strict adherence to environmental, social, and governance (ESG) investing principles. Investors could buy Glencore as an excellent EV battery stock that offers a nice 3.9% dividend yield. GLNCY stock is a good EV battery materials play to buy as it offers exposure to nickel, copper and zinc price growth. Annual net income was a solid $4.97 billion, up from a $1.9 billion loss in 2020. Rising commodity prices in 2021 boosted revenue growth to afford Glencore a 43% year-over-year sales increase to $204 billion for 2021 - even as traded commodity volumes declined. Glencore produces cobalt mainly from its African copper assets in DR Congo. Glencore’s cobalt production was 27,400 tonnes in 2020. The company’s cobalt production increased by 14% year-over-year to 31,300 tonnes for 2021, or about 18% of global cobalt mine production for the past year. Global mining and commodities trading giant Glencore is the largest primary producer of cobalt in the world today. That said, here’s a list of cobalt stocks investors could consider buying as a global EV push drives demand higher. ![]() Navigating the DR Congo issues in an environmental, social and governance (ESG) ethos-compliant portfolio that minimizes geopolitical risks could prove nearly impossible in a market dominated by Chinese cobalt refining giants. About 71% of the global supply of cobalt came from the DR Congo where disappointing and disheartening reports of human rights abuses, community health problems, unsustainable mining practices, and environmental degradation recently surfaced, not for the first time. Geological Survey (USGS) estimates 170,000 tonnes of cobalt were produced in 2021. Secondly, most of the global production of cobalt comes from just one country, the Democratic Republic of Congo. Firstly, as cobalt is mainly a by-product other metals mining, finding a pure-play cobalt stock is a tough challenge. Investing in cobalt stocks remains a tricky challenge for two important reasons. Recycling is already an important source of battery-grade cobalt supply, and efforts to remove cobalt from the battery won’t eliminate its growing demand either. Unlike manganese, copper and nickel which have relatively more abundant reserves, cobalt is usually a by-product of nickel and copper mining that is so rare that its annual production is estimated to fall behind industrial demand by 2025. Cobalt prices rallied 118% in 2021 and some of the cobalt stocks to buy on our list today could soar as increasing government support globally pushes EV production higher and battery manufacturers scramble for lithium-ion battery materials. Rarity and scarcity could be the best attributes for cobalt - one of the key lithium-ion battery minerals needed to power the booming electric vehicle (EV) industry. Canada Nickel Company (OTCMKTS: CNIKF): A speculative play on cobalt upside in an investor-friendly mining jurisdiction.Electra Battery Materials (OTCMKTS: ELBMF): Canada-based cobalt-refining and recycling project could commence production and start generating revenue by the end of 2022.(OTCMKTS: SHERF):Rising cobalt and nickel prices could drive strong revenue growth this year Panoramic Resources (OTCMKTS: PANRF): Recently restarted cobalt, nickel and copper production.Wheaton Precious Metals (NYSE: WPM): A precious metals streaming giant with growing cobalt exposure.Jervois Global (OTCMKTS: JRVMF): Recently acquired Freeport Cobalt Oy asset transforms Jervois into the second-largest producer of refined cobalt outside China. ![]()
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