'Cobalt market has fantastic potential this year' – ERG ceo

The take-up of metals in 2017 will be buoyed by vehicle demand, with electrification driving the trend, according to Benedikt Sobotka, ceo of Eurasian Resources Group (ERG).

“2016 was a rollercoaster year for the mining sector. We had a miserable January and generally volatile first quarter, then we saw range-bound markets for the following two quarters and we ended the year with a bang,” he said. The ceo believes that the aluminium market will continue to benefit from the buoyant transportation sector, as China extends tax breaks on small-engine vehicles to 2017, but singled out cobalt as a key pick for the new year, thanks to electric vehicle (EV) demand. Benedikt Sobotka, ceo of ERG With ERG owning a number of mining assets in the cobalt-rich Democratic Republic of Congo, as well as the Chambishi smelter in Zambia, it is little surprise that Sobotka is bullish about the blue metal, and credits car maker Tesla for some of the interest in cobalt. “Tesla has made electric cars cool and highly desirable, and we would like to bring a similar vibe to the...

Published

James Heywood

January 19, 2017

17:15 GMT

London