In 5 Years, the Battle Over Cobalt is Going to Intensify… a LOT!

There are just five years left before the demand for cobalt, a critical metal used to make the batteries in electric vehicles, is going to outstrip the known supply of this strategically vital resource. And with 60-70% of the world’s cobalt reserves located in the Democratic Republic of the Congo, access to those mines is going to be critical, given the rapid transition to a post-carbon economy that’s underway in the U.S., China, and Europe.

China has the upper hand at present, given that Chinese companies control an estimated 40% of the cobalt output in the DRC and, more importantly, dominates the processing market that automakers around the world depend on.

Cobalt continues to trade at multi-year highs in part because China embarked on a 5,000 ton stockpiling program last year.

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The post In 5 Years, the Battle Over Cobalt is Going to Intensify… a LOT! appeared first on The China Africa Project.



source https://chinaafricaproject.com/2021/03/25/in-5-years-the-battle-over-cobalt-is-going-to-intensify-a-lot/

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