Sweden Is on the Hunt for Cobalt
- Government to fund project to map potential mineral reserves
- Battery technology seen fuelling demand for lithium, cobalt
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Sweden will step up efforts to find precious minerals such as cobalt and lithium, key battery components that are increasingly in demand among makers of electric vehicles.
The government will invest 10 million kronor ($1.26 million) over the next two years to map the existence of minerals deemed important for future growth. While Sweden has a history of mining for base metals, the Geological Survey of Sweden, a government agency, believes there’s potential for expanding the output of more uncommon minerals like tungsten and rare earths.