Rick Rule, CEO of Sprott U.S. Holdings, and Amir Adnani, CEO of Uranium Energy Corp., discuss the role base metals play in the future of energy.
Rule said that while cobalt is attracting media attention for its use in the “electrification of things,” investors need to be cautious of companies that are not legitimately mining cobalt. “You have to be in Congo, or you have to be in Russia,” Rule told Kitco News on the sidelines of the PDAC 2018. “Everybody wants to be in politically secure, politically correct cobalt. It’s as if they wanted a cobalt discovery in Kansas.
But there isn’t any.” Adnani noted that while cobalt may play an important role in the battery theme, the often ignored phase of recharging those batteries is equally important, and this is where uranium comes into play.
“If everyone wants to drive an electric vehicle, and everyone needs to recharge these batteries around the clock at different points in time, the need for de-carbonizing the economy at the same time as making sure electricity is available around the clock can only be made available through nuclear power,” Adnani said.
“If everyone wants to drive an electric vehicle, and everyone needs to recharge these batteries around the clock at different points in time, the need for de-carbonizing the economy at the same time as making sure electricity is available around the clock can only be made available through nuclear power,” Adnani said.
- Source, Kitco News