Car Bat­tery mak­ers are eye­ing ‘Old Smart Phones’ -your bit­coins- for Cobalt

Zambian Business Times - - BUSINESS REVIEW -

By Mutisunge Zulu

SO then elec­tric car story is real and cobalt sup­ply scarce. Not ev­ery­one can speak di­rectly to the DRC or Zam­bia; so it's not rocket science that in that fac­ulty, the price will soar higher. In fact, it is likely to ex­ceed $100,000/mt a level it once was a decade ago. DRC pro­duced 78,900/mt last year -15.5% higher than in 2016- and if you want to know the grav­ity of this scarcity, that fig­ure is only 65% of global out­put. That means the world only pro­duced 121,844/mt in 2017 but matched against the num­ber of bat­ter­ies that will be needed for elec­tric cars could be fuel for even higher cobalt pric­ing. BMW, FORD, Toy­ota, Daim­ler Chrysler will all want a share of that cobalt. So what next?

Your old smart­phone is your bit­coin

They are com­ing! And come real soon; for your old smart­phone. The world is said to have over 1.8bil­lion smart phones not in use, with a bat­tery that has a lit­tle bit of cobalt and lithium. Car man­u­fac­tur­ers will call on these as­sets to ex­tract the me­tal to help plug de­mand and trust me it will go a long way. So if you were throw­ing away smart phones, well you just gave away value and if you were a col­lec­tor of old phones they could just be your Bit­coins. I liken old smart phones to carry trades in the deal­ing room and this is just the mo­ment ev­ery col­lec­tor will re­alise value. But wait a minute I hope this cy­cle doesn't push up the price of smart phones too!

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