Alongside its prospective assets in Nevada and Ontario, Global Energy Metals’ (TSX-V:GEMC) primary focus is the Millennium copper-cobalt project in the Mount Isa region of Queensland, Australia.
The exploration-stage property, which remains open for expansion, contains vast reserves of cobalt as well as significant quantities of copper.
These two metals are vital components in the production of electric batteries, and are both expected to enjoy an explosion in demand thanks to forecast rise in the use of electric vehicles (EVs) over coming years.
With cobalt nearing a supply deficit due to a widespread move away from the DRC, responsible for more than 60pc of the metal’s global production, projects in stable areas like Millennium have never been more important.
In the report below, alongside Global Energy’s president and chief executive Mitchell Smith, MiningMaven details the firm’s plans for Millennium and, critically, why funding at the project level is essential to the future electrification of vehicles.