New cobalt mine hints at increased hybrid production

Hybrids good for Idaho

Canada's Formation Metals Inc is set to begin operations that should lead to a major cobalt mine in Idaho.

Currently, 27 percent of Cobalt is used in battery technologies, including hybrid cars and some plug-in hybrids.

In the past environmental issues have prevented much new cobalt mining in the US. However, by working with environmental groups in the area and guaranteeing money for pollution mitigation and watershed protection, Formation Metals was able to secure approval from these groups.