
Originally Posted by
Kickaha
What kind of slaves do the Australian Cobalt mines use ?
Cheers I wasn’t aware of that.
Although at 3% of world production vs democratic republic of Congo at 70% it’s safe to say it’s highly likely we are using the naughty version in most of our devices….
So, where should keen investors look for exposure to this promising metal? The Democratic Republic of Congo (DRC) has long been the top producer of cobalt worldwide; according to the US Geological Survey, it accounted for about 120,000 tonnes — or 70 percent — of cobalt production in 2021.
However, the DRC’s mining industry is known for unsustainable mining practices and unchecked labour abuses, including child labour. The country cannot maintain its current level of production indefinitely, and many conscious investors are seeking more ethical alternatives.
Australia is one such alternative. Australia contains about 18 percent of global cobalt reserves, but is currently responsible for only about 3 percent of global cobalt output.
Every great cause begins as a movement, becomes a business, and eventually degenerates into a racket - Eric Hoffer
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