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Market Demands

Large and growing Total Addressable Market (TAM), driven by: 

  • Macrotrends in aerospace, electric vehicles 

  • Nickel demand projected to grow 40-50% by 2030, and nearly more cobalt will be used in the next 5 years than the past 15.  

  • Today, a foreign entity of concern,  produces nearly 40% of the world’s refined nickel and more than 65% of the refined cobalt. 

  • Advantage: Only Nickel and Cobalt metal refinery in the US (Foreign entity of concern, China has 10 nickel refineries) 

  • Nickel Compound Annual Growth Rate (CAGR): 8% estimated 2021-2030  

  • Cobalt Compound Annual Growth Rate (CAGR): 9% estimated 2021-2030 

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