Australia cobalt rush accelerates on electric vehicle demand, DRC troubles

Australia, home to the world's second-biggest cobalt reserves, is seeing a rush of interest in projects still years from production as makers of batteries used in electric vehicles (EVs) seek supplies of the metal from a more costly but less risky source than top miner, the Democratic Republic of Congo (DRC). As auto makers seek to develop greener cars, shares in Clean TeQ - owner of one of the largest cobalt deposits in Australia - have trebled this year. Minnows Cobalt Blue, Australian Mines, Artemis Resources and Aeon Metals have also seen shares surge.