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!
AI Snips
Chapters
Transcript
Episode notes
Antimony Tightness And Price Spike
- Antimony was structurally tight before export restrictions, driven by Chinese production declines and rising demand in flame retardants and lead-acid batteries.
- Export controls and supply-chain rerouting spiked Western prices, but repeal could significantly soften the market next year.
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.