Money of Mine 10 Strategic Metals: Overrated or Underrated? (Jack Bedder)
Nov 21, 2025
In this insightful discussion, Jack Bedder, the founder of Project Blue, delves into the complex world of niche metals such as antimony, cobalt, and gallium. He highlights China's control over antimony and ongoing supply issues with cobalt tied to battery markets. Gallium's recovery challenges and the small, security-sensitive germanium market are explored. Jack also emphasizes manganese's dual role in steel and batteries, and discusses the future potential of niobium, scandium, and vanadium in emerging technologies. Plus, his unique take on the importance of copper scrap adds an intriguing twist!
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DRC Controls Reshape Cobalt Outlook
- Cobalt moved from oversupply to potential tightness after DRC export limits despite large stockpiles of hydroxide sitting domestically.
- The long-term market depends on DRC quotas being enforced and sustained battery demand assumptions.
Gallium Is Tiny And Fragile
- Gallium is a very small (~900 t) by-product market dominated by China and sensitive to tiny supply shifts.
- Western recovery circuits are plausible but expensive and may rely on major miners rather than juniors.
Germanium Is A Short-Term Supply Risk
- Germanium is an extremely small market (~330 t) that has become a near-term Western security concern because of limited non-Chinese sources.
- Short-term supply for defence needs may be hard to solve quickly even if money is available.