Will we run out of cobalt?

Will we run out of cobalt? More than 70% of the world’s cobalt is produced in the Democratic Republic of Congo, and any nation that produces electronics wants in on that source. But based on operational mines and projected demand, forecasters predict that supply won’t be able to keep up with demand by 2030, or even as early as 2025.

Is cobalt environmentally friendly? Waste generated from mining cobalt and other metals can pollute water, air and soil, leading to decreased crop yields, contaminated food and water, and respiratory and reproductive health issues. Miners reported that working conditions were unsafe, unfair and stressful.

Who controls cobalt? However, Cobalt is a unique commodity because it’s primarily controlled by only two countries: China and the Democratic Republic of Congo. The DRC supplies about 70 percent of the world’s Cobalt, but 80% of its industrial cobalt mines are owned or financed by Chinese companies.

Does Tesla use cobalt from Congo? Tesla did not respond to multiple requests for comment, but in its latest impact report, the company says it procures cobalt only from producers in the DRC that meet its responsible sourcing standards.

Will we run out of cobalt? – Additional Questions

Is there an alternative to cobalt for batteries?

Some cobalt-free batteries do already exist, but they require some trade-offs. “There is already a viable cobalt-free battery and that is lithium iron phosphate or LFP.

Who is the biggest miner of cobalt?

Glencore is the world’s largest cobalt-mining company, with total production in 2017 of 27,400 tonnes, and plans to increase output to 63,000 tonnes by 2020.

How does Tesla get its cobalt?

The automaker says that it had directly sourced over 95% of the lithium hydroxide, 50% of the cobalt, and more than 30% of the nickel used in its high-energy density cells (NCA and NCM) in 2021. The rest came from deals between the battery cell manufacturers and their own material suppliers.

Where does cobalt come from for electric cars?

The majority of cobalt used in electric car batteries comes from mines in the Democratic Republic of the Congo, but many electric car makers are trying to transition away from using cobalt for several reasons, such as: The high demand for electric vehicles far outpaces the rate at which cobalt can be extracted.

Where does Tesla get its lithium?

Friday’s tweet is not the first time Musk has raised the idea of Tesla mining its own lithium. In 2020, Tesla secured its own rights to mine lithium in Nevada after a deal to buy a lithium mining company fell through, according to Fortune, which was siting “people familiar with the matter.”

Where is the biggest cobalt mine in the world?

The Democratic Republic of the Congo has the largest cobalt reserves in the world, at some 3.5 million metric tons as of 2021. As the total global cobalt reserves amount to 7.6 million metric tons, this means that the DR Congo’s cobalt reserves account for nearly half of the world’s reserves of the metal.

How much cobalt is in a Tesla battery?

Cobalt accounts for almost three percent of materials used in Tesla-made batteries.

Where does the US get its cobalt?

U.S. cobalt imports

The largest cobalt deposits are found in the DR Congo, Australia, and Cuba. Cobalt is primarily produced in the DR Congo, which produced 120,000 metric tons in 2021, in comparison to Russia’s total production of 7,600 metric tons. This metal is commonly produced as a by-product of nickel mining.

Where does China get cobalt?

First, we find that China’s foreign cobalt ownership is predominantly in the Democratic Republic of the Congo, the largest source of cobalt mine and intermediate imports for China’s growing cobalt refinery industry.

Does USA have cobalt?

World Resources: Identified cobalt resources of the United States are estimated to be about 1 million tons. Most of these resources are in Minnesota, but other important occurrences are in Alaska, California, Idaho, Michigan, Missouri, Montana, Oregon, and Pennsylvania.

What country has the most cobalt?

The six largest cobalt reserves in the world by country
  1. Democratic Republic of Congo – 3.6 million tonnes.
  2. Australia – 1.4 million tonnes.
  3. Cuba – 500,000 tonnes.
  4. Philippines – 260,000 tonnes.
  5. Russia – 250,000 tonnes.
  6. Canada – 220,000 tonnes.

What country owns the most cobalt mines?

The mining industry in the Democratic Republic of Congo is the most lucrative and essential part of the DRC economy. It is their largest source of export income. The DRC accounted for more than two thirds of global cobalt production in 2021, making it the world’s largest cobalt producer by a large margin.

Why does China want cobalt?

The mine figures prominently in the Chinese government’s effort to dominate major supply chains for minerals and metals needed in the production of batteries for electric vehicles. Cobalt is essential for electric vehicles because it extends battery range. It is now trading at a three-year high.

What do the Chinese use cobalt for?

They produce cobalt metal and powder, which are mostly used to make superalloys used in jet engines, or chemicals like cobalt sulphate, which are used to make batteries. China is even more dominant in the production of cobalt chemicals needed to make batteries than Congo is in cobalt mining.

What is the biggest use of cobalt?

On a global basis, the leading use of cobalt is in rechargeable battery electrodes. Superalloys, which are used to make parts for gas turbine engines, are another major use for cobalt.

What is the future of cobalt?

Mell said Electra forecasts cobalt demand to grow more than 11,500 mt/year by 2025 compared with 2021 levels. With growing demand prospects, the Toronto-based company is assessing opportunities to potentially build a second cobalt refinery to address projected supply shortages for EV market, Mell added.

Why is cobalt so valuable?

Cobalt is an essential mineral used for batteries in electric cars, computers, and cell phones. Demand for cobalt is increasing as more electric cars are sold, particularly in Europe, where governments are encouraging the sales with generous environmental bonuses.

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