Booming demand for batteries powering the world’s shift into electric vehicles is rekindling U.S. cobalt production after at least a 30-year hiatus.
Australia-based Jervois Global Ltd. is starting the first U.S. cobalt mine in Idaho on Friday, according to CEO Bryce Crocker. The mineral sits “at the top of the table” in terms of national security, said Crocker.
“There aren’t many new sources of supply, particularly in stable jurisdictions, which is why this mine in the US is very important,” he said. Cobalt hasn’t been produced in the US since at least 1994, according to data from the United States Geological Survey.
Cobalt is a crucial component in EV batteries and is on the U.S. government’s critical-minerals list. The U.S. sees widespread adoption of EVs as key to its efforts to combat climate change.
Both California and New York have passed laws that will ban the sale of new gasoline-powered vehicles in the coming decades. As automakers…