Supply is fantastically tight and set to get phenomenally tighter.
Analysts at Macquarie Research project deficits of 885 tonnes of this resource next year, 3,205 in 2019 and 5,340 in 2020.
That's a deficit increase of 503 percent. More importantly, it's a massive opportunity for first-in investors.
The panic over future supply has already broken out.
The metal is cobalt, and hedge funds are already hoarding the physical metal to gain exposure, with Swiss-based Pala Investments and China's Shanghai Chaos stockpiling 17 percent of last year's global production.
Cobalt is critical to the electric vehicle (EV) revolution, and it makes up some 35 percent of the lithium-ion battery mix—but we can't source enough of it now, and the future supply is uncertain at best.