![Market Uncertainty: Keep Your Retirement Savings on Track](https://www.finder.com/finder-us/wp-uploads/sites/5/2017/02/CouplePlanningTrip_GettyImages_450x250.jpg)
Market Uncertainty: Keep Your Retirement Savings on Track
Persistent inflation and uncertain economic conditions can prompt fear. Answer six questions to know when to protect your retirement savings.
Read more…Cobalt is a highly sought-after metal used to make Lithium-ion (rechargeable) batteries, blue dye for glass and ceramics, radiation therapy equipment and materials used for electroplating (coating solid items in metal). But the potential gains of investing in cobalt come with high risks as well.
Make sure you’re aware of the dangerous, violent and unstable conditions surrounding the cobalt-mining industry before you invest.
Cobalt is a hard, metallic element used to manufacture batteries, magnets, paints and chemical catalysts. It’s rare, valuable and in increasingly high demand thanks to the rise of electric vehicles.
Over two-thirds of the world’s cobalt is mined in the Democratic Republic of Congo. Other major cobalt producers include Canada, Cuba, Russia, Australia, the Philippines and South Africa.
It’s no secret that the tide of vehicle manufacturing is shifting. Thanks to environmental movements worldwide, electric vehicles have become less of a novelty and more commonplace than ever before.
And what do electric vehicles need to function? Batteries.
Cobalt is an essential part of the electric vehicle manufacturing process, as it’s a key component of lithium-ion batteries. Many industry experts expect the demand for cobalt to rise in the coming years with the projected impact of electric vehicles on the automotive market.
A major risk facing cobalt investors is the location of the majority of the world’s cobalt supply: the Democratic Republic of Congo (DRC). Historically, the DRC has been marked by political instability and civil unrest. Volatile political shifts have the potential to impact supply chains and security for cobalt operators in the DRC is far from guaranteed. The process of cobalt mining is also fraught with conditions that violate human rights.
As a result of the unstable and violent conditions that surround cobalt acquisition, a number of companies that rely on it, including Tesla, are actively seeking a workaround to avoid overreliance on the difficult-to-procure metal. As electric vehicles become more popular, some manufacturers are working to develop methods of electric power that reduce or eliminate the need for cobalt.
That said, such a solution is still many years from mass production. Industry experts suggest electric vehicles will continue to rely on cobalt.
Most of the companies on this list don’t deal exclusively in cobalt — the mining and refining of cobalt is typically conducted in conjunction with another metal such as nickel and copper. Due to cobalt-mining operations in Canada, you can buy cobalt stocks on Canadian stock exchanges.
But, if you want to explore a wider range of investment opportunities, you’ll need to work with brokerages that provide access to stock exchanges in other countries. There are several Canadian-based brokerages that offer this including Interactive Brokers and Questrade.
Some cobalt stocks, like Vale and Wheaton Precious Metals, are available on the NYSE. That means you can easily purchase them with any brokerage account. The table below compares some of the most popular Canadian brokers.
But if you plan to heavily trade cobalt, you’ll want to compare international brokerage accounts that offer access to foreign exchanges.
Cobalt plays an important role in our modern society, contributing to the production of batteries, magnets and chemical catalysts. While its primary production lines in the DRC are far from stable, experts believe we will continue to need cobalt to produce electric vehicles in the coming years.
To invest in cobalt, you’ll likely need an international brokerage account. Compare your platform options to find the brokerage that best fits your needs.
Persistent inflation and uncertain economic conditions can prompt fear. Answer six questions to know when to protect your retirement savings.
Read more…Find out how long term investments work and how to use long term investments to build your wealth.
Read more…Robo-advisor assets under management in Canada are expected to increase 107% in the next five years.
Read more…Steps to owning and managing Yoshitsu Co. stocks, with 24-hour and historical pricing before you buy.
Steps to owning and managing Cerberus Cyber Sentinel stocks, with 24-hour and historical pricing before you buy.
Steps to owning and managing Fresh Vine Wine, Inc stocks, with 24-hour and historical pricing before you buy.
Steps to owning and managing DGX with 24-hour and historical pricing before you buy.
Everything we know about the Nuvectis Pharma IPO plus information on how to buy in.
Steps to owning and managing BuzzFeed, Inc stocks, with 24-hour and historical pricing before you buy.
These are the best renewable energy stocks to buy now in Canada.
A failed SPAC deal pulled the plug on this vertical farming company’s plans to go public. But you can buy stock in other sustainable farming companies.
Everything we know about the Reddit IPO plus information on how to buy in.
Want to know how to buy and sell stocks in Canada? Find out what you need to know in this simple, step-by-step guide.