It's pretty simple. If you believe in the EV revolution, then cobalt is needed, whatever the price (margin on the final product). It is a COMPONENT of the battery composition that is needed for an electric vehicle. If you need it for stability, safety, mileage etc, then you need it. It may cost more to get it out of the ground than what it can be sold for right now in some projects, but that is irrelevant to a battery maker who can cover the margin or pass on the difference to the vehicle manufacturer.
They need size, scale, and life of mine.
AGM 13.11.18, page-100
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