While more than half of the world’s cobalt is currently mined in the Democratic Republic of the Congo, Vancouver-based Marifil Mines (TSX.V: MFM) (OTCQB: MFMLF) is engaged in the exploration, evaluation and acquisition of mineral rich resource properties in Argentina. The company is set to profit from this position, as the Democratic Republic of the Congo is home to political unpredictability and ethically-challenging labor conditions, which cause major concern for investors and international consumers. An article discussing the company reads: “As Marifil Mines Ltd. (TSX.V: MFM) (OTCQB: MFMLF) moves into position to take its role in the global supply chain, a key mining industry publication has reported that electric vehicle manufacturers remain anxious to secure supplies of cobalt and lithium (http://ibn.fm/j5aTK). Mining Technology says that China is maneuvering to secure a tighter grip on cobalt supplies, which, along with lithium, are crucial to the production of electric vehicle power supplies. … The International Monetary Fund (IMF) recently voiced concern about cobalt in particular, since well over half of the world’s cobalt is currently mined in the Democratic Republic of the Congo. In addition to the country’s political instability, its cobalt mining industry presents serious ethical issues, with Amnesty International uncovering widespread use of child labor and hazardous working conditions (http://ibn.fm/orewK). This has led many investors in the auto industry and elsewhere to seek “clean” sources of cobalt closer to home.”
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About Marifil Mines
Marifil Mines Ltd. is a mineral exploration company based in Vancouver, Canada. The company is engaged in exploring, evaluating and acquiring mineral rich resource properties in Argentina. For further details regarding Marifil Mines Ltd., please refer to the company’s filings available on SEDAR. For more information, visit the company’s website at www.MarifilMines.com
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