Greatland Gold has made application for licences covering a large cobalt exploration property in the Pilbara Region of northern Western Australia.
Greatland has applied for two adjoining exploration licences, covering 130 square kilometres, in an area that Greatland considers to be highly prospective for cobalt.
The Panorama Cobalt Project, located approximately 200 kilometres south east of Port Hedland, occupies a dominant and strategic position across what is potentially the largest coherent cobalt in streams anomaly in Western Australia.
Strong future growth in the demand for electric cars, renewable energy storage and portable devices such as smart phones and laptops could lead to a dramatic acceleration in the global demand for cobalt. In September 2016, the CRU Group, a commodities research and consultancy firm, estimated that global consumption for refined cobalt is set to reach 100,000 tonnes in 2017 and that demand for cobalt will grow at an average rate of 5% per annum for the next 10 years.
Gervaise Heddle, Chief Executive Officer, commented: "Cobalt is a vital component in many of the new technologies that are set to reshape the future of the global energy market. Half of the current global supply of cobalt comes from the Democratic Republic of Congo (DRC) in Africa and cobalt projects with the ability to scale to meet future global demands are rare, particularly in safe jurisdictions such as Australia.
"We believe that the Panorama Cobalt Project is highly prospective for a large, near surface deposit in an area that has been almost completely ignored by mineral explorers for cobalt for the past forty years. I would like to offer my sincere thanks to Greatland's technical team for their excellent work in identifying, what we believe, could be a considerable opportunity."
