Idaho Falls Citizen Journalism

If nearly 500,000 deposits of $1,000 each on the new Tesla Model 3 indicate bridled demand, the electric cars have a sure future.

Tesla announced it will source cobalt only in North America, but Canada and the United States produce an estimated 4 percent of the world supply. Formation Metals, a Canadian mining firm, changed its name to eCobalt Solutions in 2016 and aims to extract cobalt ore from a hefty deposit near Salmon, Idaho. “The Idaho Cobalt Project remains the sole, near term, environmentally permitted, primary cobalt deposit in the United States, the world’s largest single consumer of cobalt,” said Paul Farquharson, president and CEO of eCobalt.

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