Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.

 

In November, cobalt metal prices in Europe rose by 10.4% to punch through the $US30/lb mark for the first time since late 2018.

This late year rally is underpinned by strong demand side fundamentals, limited metal production in China, logistical bottlenecks, and a bullish outlook for battery sector demand heading into 2022, says Benchmark Mineral Intelligence.

Benchmark expects prices to rise steadily into the New Year, “with some market contacts indicating that they expect prices to break the $35/lb level before year-end”.

“Indeed, Benchmark sources have indicated that cobalt metal demand from the battery industry in Europe and Japan is set to increase substantially in 2022,” it says.


 

Cobalt customers diversifying away from the DRC

The landlocked Democratic Republic of Congo (DRC) is a global giant when it comes to cobalt production. According to the United States Geological Survey (USGS), the DRC produced 95,000 tonnes of cobalt in 2020, accounting for 68% of global output.

It’s where China – the world’s biggest consumer by far — gets ~90% of its supply.

But some high-profile supply agreements have shown that European consumers are committed to diversifying away from problematic Chinese and DRC supply chains, Benchmark says.

“To an extent, supply chain players have shown willingness to accept higher costs in order to ensure ESG targets are met, making products more appealing to global automakers,” it says.

That includes prospective Norwegian cell producer, FREYR, which signed a supply contract with Glencore for 1,500 tonnes of cobalt metal in the form of ‘cut cathode’, sourced from Glencore’s Nikkelverk refinery in Norway.

Nikkelverk uses concentrate from Canada and recycled material as feed.

“Generally, cobalt metal in the form of cut cathode has not been utilised by the battery industry for conversion into cobalt sulphate, due to extended dissolution times and therefore higher conversion costs than more conventional cobalt metal briquettes, broken cathode and hydroxide,” Benchmark says.

 

Where’s is the non-DRC cobalt coming from?

Cobalt supply is expected to be dominated by the DRC for the foreseeable future.

That underscores the importance of cobalt projects in ‘de risked’ tier 1 jurisdictions – like those owned by Jervois Mining (ASX:JRV)Australian Mines (ASX:AUZ)Sunrise Energy Metals (ASX:SRL) Queensland Pacific Metals (ASX:QPM)Cobalt Blue (ASX:COB), red hot IPO Kuniko (ASX:KNI) and Metals X’s (ASX:MLX) nickel-cobalt spin-out Nico Resources, which is gearing up to list in December or January.

NOW READ: Cobalt stocks guide: Here’s everything you need to know

 

Battery Metals Winners and Losers

Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium are performing>>>

Battery metals stocks missing from our list? Email [email protected]

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % SHARE PRICE MARKET CAP
ADD Adavale Resources -10 -31 -62 -25 0.038 $ 12,987,708.88
AML Aeon Metals -8 -23 -57 -68 0.0395 $ 33,618,703.60
ALY Alchemy Resource -8 -8 -30 -41 0.011 $ 10,475,793.79
ARN Aldoro Resources -11 -18 25 153 0.405 $ 36,010,003.55
ARN Aldoro Resources -11 -18 25 153 0.405 $ 36,010,003.55
AKE Allkem Limited -10 -13 23 115 8.54 $ 5,431,717,992.72
AJM Altura Mining 0 0 0 0 0.063161 $ 214,798,472.24
ARR American Rare Earths 3 -3 101 65 0.165 $ 57,661,907.16
ATM Aneka Tambang -5 -5 5 5 1.05 $ 1,368,831.45
ASN Anson Resources -19 -28 67 209 0.105 $ 102,139,928.00
ARU Arafura Resource -8 -18 16 76 0.185 $ 271,323,033.10
AXE Archer Materials -3 -29 61 117 1.16 $ 264,896,911.49
ARL Ardea Resources 8 12 16 22 0.52 $ 69,415,109.50
ADV Ardiden 0 -15 10 -45 0.011 $ 24,763,356.59
AGY Argosy Minerals 0 -20 168 277 0.26 $ 291,300,489.87
AZL Arizona Lithium -9 -30 203 727 0.091 $ 153,533,049.83
AAJ Aruma Resources -13 -22 6 -36 0.067 $ 8,187,497.70
AOU Auroch Minerals -15 -29 -42 -29 0.11 $ 38,871,786.47
AQD Ausquest Limited -6 0 -26 -6 0.017 $ 14,834,686.01
A8G Australasian Metals -11 -38 170 0.445 $ 17,626,722.30
AUZ Australian Mines -2 -18 14 31 0.0205 $ 86,071,182.28
AVL Australian Vanadium -4 23 35 80 0.027 $ 88,598,045.86
AR3 Austrare -11 23 0.92 $ 69,405,891.67
AVZ AVZ Minerals 3 21 300 588 0.64 $ 1,818,267,564.20
AZS Azure Minerals 0 -4 18 -59 0.335 $ 96,328,073.51
BMM Balkanminingandmin -16 -45 0.375 $ 11,462,500.00
BHP BHP Group 4 11 -18 -4 40.03 $ 116,800,452,688.46
BKT Black Rock Mining 10 -6 29 150 0.22 $ 160,116,424.41
BEM Blackearth Minerals -4 -4 0 150 0.115 $ 22,826,503.04
BSX Blackstone -6 -9 49 45 0.535 $ 199,514,439.33
BOA Boadicea Resources 5 8 -20 -14 0.2 $ 15,928,478.48
BRB Breaker Res NL -12 -28 61 66 0.29 $ 92,864,664.77
BUX Buxton Resources -1 -18 -34 22 0.079 $ 11,020,489.99
CAE Cannindah Resources -16 -64 203 538 0.185 $ 89,032,517.47
CWX Carawine Resources -3 -5 -21 -34 0.185 $ 25,861,303.37
CLA Celsius Resource -15 -15 -49 -50 0.022 $ 23,187,517.78
CTM Centaurus Metals 0 2 56 81 1.03 $ 343,729,052.00
CHN Chalice Mining -2 36 1 143 9.24 $ 3,219,609,409.18
CHR Charger Metals -1 -23 0.41 $ 12,972,569.18
COB Cobalt Blue -12 -18 -4 176 0.345 $ 106,088,145.69
CNJ Conico 0 -5 16 3 0.036 $ 37,007,950.34
CZN Corazon -6 -11 -13 -45 0.033 $ 9,834,831.06
CXO Core Lithium 1 -17 104 546 0.53 $ 792,701,302.80
DEV Devex Resources -9 97 36 131 0.6 $ 164,946,583.73
EGR Ecograf Limited -21 3 6 254 0.655 $ 292,716,748.35
ESS Essential Metals -8 -27 77 101 0.175 $ 38,646,395.84
ESR Estrella Res -19 -24 -61 -79 0.025 $ 29,426,093.50
EUR European Lithium -4 -41 72 134 0.11 $ 113,449,884.24
EMH European Metals -4 -7 -4 77 1.335 $ 171,721,393.80
FFX Firefinch 17 18 107 379 0.755 $ 744,489,789.30
FGR First Graphene 5 11 -11 -9 0.21 $ 115,525,407.06
FRS Forrestaniaresources -17 -43 0.27 $ 7,854,000.00
GLN Galan Lithium -6 -16 97 310 1.415 $ 407,127,267.81
GAL Galileo Mining -13 -7 -25 -13 0.21 $ 36,207,979.08
GL1 Globallith -5 -6 109 0.565 $ 59,267,194.57
GME GME Resources -12 -23 -11 2 0.053 $ 33,857,473.43
GED Golden Deeps 8 8 0 -7 0.013 $ 10,086,068.72
G88 Golden Mile Resources 2 0 -15 4 0.052 $ 8,892,953.06
GBR Great Boulder Resources 0 -13 35 182 0.135 $ 46,440,655.17
GSR Greenstone Resources -10 4 18 -13 0.026 $ 21,791,124.60
GW1 Greenwing Resources -9 -15 37 105 0.41 $ 45,743,644.65
HNR Hannans 0 -18 435 524 0.037 $ 91,219,501.66
HAS Hastings Tech Met -8 -8 38 62 0.235 $ 399,844,863.44
HXG Hexagon Energy -1 -25 -14 23 0.079 $ 33,005,023.20
HYM Hyperion Metals 0 -10 -13 239 0.865 $ 115,775,447.53
IGO IGO -3 9 29 97 9.91 $ 7,610,541,520.65
ILU Iluka Resources 3 -2 10 52 8.66 $ 3,724,180,609.60
IPT Impact Minerals -7 -7 -13 -38 0.013 $ 26,309,333.95
INF Infinity Lithium 0 -22 161 13 0.175 $ 62,113,418.40
INR Ioneer -4 -23 79 110 0.61 $ 1,179,065,329.43
IXR Ionic Rare Earths -7 5 46 116 0.041 $ 139,088,380.07
JRV Jervois Global -2 -2 -3 54 0.52 $ 789,259,048.24
JRL Jindalee Resources -12 -20 -26 160 2.13 $ 116,323,526.90
LKE Lake Resources -5 -25 204 925 0.82 $ 932,447,770.11
LEG Legend Mining -2 -17 -63 -50 0.05 $ 137,756,786.05
LPD Lepidico -8 -6 196 381 0.0385 $ 230,156,181.06
LML Lincoln Minerals 0 0 0 0 0.008 $ 4,599,869.49
LTR Liontown Resources -21 -24 165 519 1.455 $ 3,178,310,228.03
LEL Lithenergy -15 -31 76 0.74 $ 33,075,000.00
LIT Lithium Australia NL -6 -17 -6 88 0.1125 $ 112,757,141.53
LPI Lithium Pwr Int -3 -12 128 65 0.445 $ 149,971,034.64
LOT Lotus Resources -2 -6 45 243 0.305 $ 276,596,517.36
LYC Lynas Rare Earths 5 22 64 122 8.91 $ 8,302,186,296.80
MNS Magnis Energy Tech -12 -24 60 158 0.465 $ 425,642,809.24
MAN Mandrake Res -12 -21 -82 -57 0.045 $ 22,582,351.79
MLS Metals Australia 0 25 25 25 0.0025 $ 10,477,114.72
MLX Metals X 24 34 83 421 0.495 $ 449,096,703.17
MCR Mincor Resources -2 -10 17 17 1.2 $ 576,373,358.40
MRC Mineral Commodities -13 -29 -59 -74 0.1 $ 51,894,091.50
MIN Mineral Resources -1 18 -7 29 44.69 $ 8,307,520,781.89
MMC Mitremining -5 -5 0.2 $ 5,552,445.50
MOH Moho Resources -8 2 -20 -44 0.059 $ 7,420,748.72
MRD Mount Ridley Mines 14 14 14 167 0.008 $ 42,311,506.41
NMT Neometals -3 -5 102 369 1.025 $ 570,311,451.84
NWC New World Resources -8 -17 -35 21 0.068 $ 109,499,115.02
NIC Nickel Mines -4 31 24 34 1.33 $ 3,508,465,526.15
NKL Nickelx -5 -19 -30 0.105 $ 5,811,750.00
NTU Northern Min -15 0 61 51 0.053 $ 247,605,406.27
NVADB Nova Minerals 1 -7 -13 -28 1.26 $ 214,804,507.20
OZL OZ Minerals 3 10 4 41 26.4 $ 8,851,866,433.69
PAM Pan Asia Metals -11 -16 190 223 0.42 $ 30,936,630.48
PAN Panoramic Resources -5 0 27 50 0.21 $ 430,691,940.84
PEKDA Peak Resources 21 18 -38 13 0.8 $ 142,132,523.39
PNN PepinNini Minerals -11 -33 57 150 0.425 $ 20,016,966.45
PLL Piedmont Lithium -1 -12 -14 120 0.78 $ 419,473,336.00
PLS Pilbara Min -6 0 78 231 2.36 $ 6,991,222,392.20
PGM Platina Resources -20 -18 -35 9 0.051 $ 23,456,646.47
POS Poseidon Nickel 0 2 13 29 0.088 $ 266,564,478.76
PSC Prospect Resources -3 37 294 348 0.65 $ 261,399,356.35
PRL Province Resources -8 -5 -8 996 0.1425 $ 158,152,373.54
PUR Pursuit Minerals -18 -21 -67 35 0.027 $ 23,425,347.90
PVW PVW Resources 8 3 210 210 0.465 $ 30,479,625.00
QEM QEM 0 -3 0 128 0.18 $ 19,849,083.28
QPM Queensland Pacific -10 -16 28 363 0.185 $ 223,676,166.62
QXR Qx Resources -4 -24 38 47 0.022 $ 12,888,884.10
RFR Rafaella Resources -10 -26 -37 -23 0.06 $ 12,016,772.33
REE RareX -1 4 22 -18 0.099 $ 44,707,727.20
RMX Red Mount Min -15 -15 -23 -23 0.0085 $ 13,180,124.72
RLC Reedy Lagoon -25 -33 67 114 0.03 $ 16,200,784.98
RNU Renascor Resources 0 -15 34 900 0.11 $ 198,305,746.80
RBX Resource Base -2 5 488 488 0.2 $ 7,989,517.00
RXL Rox Resources 0 0 -24 -54 0.365 $ 59,102,855.25
S2R S2 Resources -19 3 10 -32 0.17 $ 60,583,725.35
SBR Sabre Resources 0 -17 0 -50 0.005 $ 8,446,568.25
SYA Sayona Mining -15 -23 95 1382 0.115 $ 775,621,717.75
SRI Sipa Resources -2 -11 -14 -29 0.049 $ 9,841,190.54
SGQ St George Mining 5 -6 -26 -49 0.061 $ 35,940,647.16
STK Strickland Metals -3 -22 113 34 0.068 $ 80,099,692.35
SLZ Sultan Resources 0 -11 -41 -32 0.16 $ 11,125,502.24
SRL Sunrise 0 -9 -15 -31 1.755 $ 166,607,076.15
SYR Syrah Resources -6 -12 3 9 1.105 $ 546,114,521.69
TLG Talga Group -24 -28 -12 -26 1.365 $ 418,968,713.63
TMT Technology Metals -6 -16 3 -14 0.31 $ 63,135,030.90
TNG TNG Limited -17 -44 -4 -25 0.067 $ 99,966,111.98
TKL Traka Resources -14 -20 -33 -48 0.012 $ 8,709,510.52
TON Triton Minerals -3 -3 18 -22 0.039 $ 45,378,722.68
VR8 Vanadium Resources -9 -18 19 152 0.063 $ 29,332,967.19
VMC Venus Metals 0 -3 -16 -20 0.175 $ 27,194,162.94
VIA Viagold Rare Earths 0 0 2339 10426 2 $ 166,624,808.00
VML Vital Metals Limited -7 -4 -10 44 0.052 $ 212,439,637.28
VRC Volt Resources -4 -4 -18 135 0.027 $ 69,583,206.03
VUL Vulcan Energy -6 -21 20 360 9.79 $ 1,137,856,640.55
WKT Walkabout Resources 0 -3 3 15 0.19 $ 74,989,655.48
KNI Kuniko 8 -34 42 42 1.21 $ 49,980,000.00