5 Best Cobalt Stocks To Buy For 2021

4. Australian Mines Limited (ASX: AUZ.AX)

Australian Mines Limited (ASX: AUZ.AX) is a Brisbane-based mining firm that prioritizes the mining and development of metals for use in new technologies. The firm has interests in cobalt-scandium-nickel projects in Australia. One of the biggest projects for the company, Its flagship Sconi, is considered the most advanced production-wise in the country. The project has been estimated to deliver an annual average production of 3,010 tonnes of cobalt sulphate, 24,420 tonnes of nickel sulphate and 77 tonnes of scandium oxide for at least the first 20 years. 

The company has a market cap of more than $63 million and has an annual revenue of more than $17 million. Australian Mines had previously said that the reserves of cobalt and nickel at its flagship project site were enough to produce the equivalent of at least 3 million to 6 million electric vehicle battery packs. As the demand for EVs increases, the company would stand to gain from this boom.