Perspectives on cobalt supply through 2030 in the face of changing demand

Lithium-ion battery (LIB) demand, particularly for electric vehicles, is projected to increase by over 300% throughout the next decade.

With these expected increases in demand, cobalt dependent technologies face the risk of significant impact from supply concentration and mining limitations in the short-term.

There are many questions regarding the evolution of that demand, which types of battery chemistries will be leveraged to meet EV demand, the supply chain impacts based on mining and refining capacity, the environmental and social impacts of growing mine output, and the recycling infrastructure to support end-of-life materials management.

This paper provides a detailed investigation of new cobalt supply, the potential role of secondary supply, as well as demand across a variety of applications. It also explores how supply of cobalt will shift to meet this demand through 2030; geographically and by source.

The authors conclude by encouraging policy makers to consider material criticality risks in the context of existing risks from maintaining status quo vehicle technology use.

The full article can be found here.