Cobalt specialist Global Energy Metals Corp (CVE:GEMC) is partnering up with online publisher Visual Capitalist to present a three-part series detailing the rise of Tesla Inc (NASDAQ:TSLA) and the new energy space.
LOOK: Part 1 of the ‘Rise of Tesla’ series
With awareness of the harmful impact of greenhouse gases growing, GEMC says demand for cobalt – which is used in electric car batteries – is also on the rise.
In fact, cobalt is the top performing base metal so far in 2017 with the price more than doubling.
The metal is currently in a worldwide supply deficit due to the increasing demand and constrained supply, GEMC says.
The company has a cobalt footprint in Canada and recently added to that buy acquiring the Millennium cobalt project in Australia.
Shares opened 4.2% higher at C$0.12 on Monday morning.