|There's a new gold rush underway in northern Ontario, but the demand is for a metal that is used in everything from smart phones to electric cars. More than a dozen mining companies are staking out claims in Cobalt, Ontario as price of the mineral with the same name rises.|
The town of Cobalt is located along the Quebec border and is best known for the massive amounts of silver that were extracted a century ago.
Booming town of Cobalt, 1906
|A year and a half ago, a pound of Cobalt cost $10. Now it's more than doubled. Demand for the mineral is expected to double in the next 3-5 years.|