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Soaring demand for battery metals could ignite the cobalt mining industry in North America and benefit mining companies like Fuse Cobalt Inc. ($FUSEF)

The new U.S. Inflation Reduction Act places a $370 billion bet on alternative mineral supply chains in an effort to reduce dependencies on China and boost battery metal supply chains in North America. Cobalt is one of the most critical minerals needed for clean energy technology, as it is a necessary component in EV batteries. As the demand for green energy expands, so does the demand for cobalt and mining companies such as FUSEF could benefit from it rewarding early investors.

The new U.S. Inflation Reduction Act places a $370 billion bet on alternative mineral supply chains in an effort to reduce dependencies on China and boost battery metal supply chains in North America (27). Tesla (NASDAQ:TSLA) is the industry pioneer in Electric Vehicles (EV). Ford (NYSE:F), General Motors (NYSE:GM), Lucid Group Inc (NASDAQ:LCID), Nikola Corp (NASDAQ:NKLA), Volkswagen (OTC:VWAGY) and other carmakers are also pushing ahead with plans to capitalize on the growing consumer preference for electric cars creating a strong demand for battery metals and mining companies.

One company that could be potentially well positioned for this unprecedented opportunity is Fuse Cobalt Inc. (OTCQB: FUSEF) (TSX: FUSE) and here’s why

  1. Demand for battery metals to jump 500% by 2050. (37)
  2. Early indications are that Canada offers multiple encouraging deposits with opportunities to supply the North American Electric Vehicle supply chain.
  3. Mercedes-Benz and Volkswagen are teaming up with Canada in a battery materials push to secure access to cobalt supply in North America. (31)
  4. The Biden administration is looking at funding Canadian mining and metals companies, as the new climate law sends U.S. automakers scrambling to find new sources of raw materials for electric vehicles.(28)
  5. Fuse Cobalt Inc. (OTC: FUSEF) (TSX: FUSE) is planning an aggressive drilling exploration program on one of its key targets. These drill targets have already produced results that indicate further work is warranted. Drilling should begin by mid-September.(3)

Fuse Cobalt Inc. (OTCQB: FUSEF) (TSX: FUSE) has already surpassed several early milestones and has mining exploration properties located in “mining friendly” jurisdictions, close to water, power, and a skilled labor force that have been accommodating to mining. Fuse Cobalt has a working agreement with the world’s largest mining company, Glencore, and is located within a kilometer of a soon-to-be refurbished cobalt refinery (17).

It’s no secret that the demand for green energy is on the rise. The trend can be seen across the globe as international governments make commitments to clean energy and automakers commit to phase out carbon emissions vehicles. Cobalt is one of the most critical minerals needed for clean energy technology, as it is a necessary component in EV batteries. As the demand for green energy expands, so does the demand for cobalt and mining companies such as FUSEF could benefit from it rewarding early investors.

Click HERE to read more about FUSEF

Video Link: https://www.youtube.com/embed/gStq0kH0pgI

 

Other mining stocks to consider would be Sigma Lithium Corp. (SGML), Piedmont Lithium Inc. (PLL) and Albemarle Corp. (ALB).

 

Sources:

3: https://fusecobalt.com/wp-content/uploads/2022/07/factsheet.pdf

17: https://fusecobalt.com/info3/

27: https://www.atlanticcouncil.org/blogs/energysource/the-inflation-reduction-act-places-a-big-bet-on-alternative-mineral-supply-chains/

28: https://www.eenews.net/articles/biden-admin-eyes-funding-canadian-mining/

31: https://money.usnews.com/investing/news/articles/2022-08-23/volkswagen-teams-up-with-canada-in-battery-materials-push

37: https://www.northernminer.com/news/demand-for-battery-metals-to-jump-500-by-2050/1003816784/

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