Category: Cobalt

A market deficit for cobalt is shrinking as the world’s top producers of the prized metal expand production to meet the demand for batteries used in electric vehicles (EVs), according to a new report by S&P Global Intelligence.  With a spoke in EV sales this year, demand for cobalt drove major producers to plan to increase output at mine sites in the Democratic Republic of Congo (DRC) and balance the market, says S&P.   Some EV-makers have begun seek alternatives to the battery metal, which provides stability to the battery cathode, but is costly and linked to allegations of human rights abuses of artisanal miners in the DRC. Market Intelligence says the metal… Read More Here

Although the Democratic Republic of Congo (DRC) will remain the leading producer of cobalt in the coming years, investments are likely to shift to Australia, which is seen as a “bright spot” for miners and offtakers seeking to avoid human rights and environmental risks associated with cobalt mining in the DRC. “Australia represents a much lower risk environment if the EU seeks to reduce its dependency on the DRC for cobalt,” research firm Fitch Solutions said on Thursday. Australia’s mining regulations prioritise sustainable extractive processes, which Fitch said would prove appealing for countries with strong environmental standards. The EU, for instance, was… Read More Here