Uganda may become the next big cobalt production country of the world, next to Democratic Republic of Congo. Drilling tests by Canada’s M2 Cobalt Corporation seem to indicate that that there may be more cobalt in Uganda than previously thought.
Cobalt, a crucial mineral for the production of batteries, is a very scarce product. Meanwhile the world wants to find more of it for the production of electric vehicle batteries.
M2 Cobalt reported promising results from its drillings, after having carried out extensive airborne surveys. Experts of the company drilled three targets near a historical copper mine close to Uganda’s border with DR Congo, where more than 60 per cent of the world’s cobalt is produced.
“M2 Cobalt believes its Uganda property, about 2,400 square kilometres, holds huge promise because parts of it share geological similarities with Congo’s cobalt-rich Katanga region”, the East African Reports.
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