The Ubika Battery Metals Index, composed of 10 lithium and 10 cobalt companies, has rallied 56% over the past year
While automakers worldwide are racing to produce electric vehicles (EVs), battery metals continue to climb as both lithium and cobalt see ever-increasing demand. The forecasted under-supply of battery metals is further complicated by conflict-ridden Congo, which supplies nearly half of the world’s cobalt, as it has recently been under scrutiny for inhumane working conditions and employing child labour. The Ubika Battery Metals Index, composed of 10 lithium and 10 cobalt companies, has rallied 56% over the past year, with some company valuations surging more than 100%. With an implied shortage of lithium and cobalt in the market, we examine which producing companies are best positioned to rise from this battery frenzy.
Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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