![]() ![]() While DRC and China play significant roles in the production and refinement of cobalt, there are notable issues. China is responsible for 80% of the world’s global output of cobalt sulfate and oxides in 2020 the region is also the largest consumer of cobalt. While most of the world’s cobalt supply is derived from DRC, China plays a huge part in its refinement. Today’s cobalt is produced in around a dozen countries around the world. ![]() Eastern Europe follows second in the same year, followed by Australia and the Philippines as third and fourth-largest respectively. In 2019, the DRC produced the most cobalt at around 100,000 metric tons. Known as a DRC copper belt, this region holds nearly half of the globe’s cobalt reserves. Only 15% of cobalt is produced by primary cobalt operations.Īs mentioned, most of the world’s cobalt reserves are located in the Democratic Republic of Congo (DRC). Since 50% of cobalt production is nickel-related and 35% copper-related, cobalt production falls when mining for nickel and copper drops. If you’re looking to invest in cobalt, it’s essential to know the status of its supply and demand. See Related: 12 Best Impact Investing Books to Read Cobalt supply Instead, cobalt is often produced as a by-product of copper and nickel-mining activities. Because of its low concentrations in the earth’s crust (0.002%), it isn’t found as a native metal. Like its cousin nickel, cobalt is a hard, silver-gray metal derived from the earth’s crust in a chemically combined form, except for small deposits found in meteoric iron. With all these factors considered, it is highly recommended that all potential investors conduct thorough research on cobalt supply, demand, and the various investment options available before joining the cobalt profit party. Human rights abuses in the Democratic Republic of Congo (DRC), where most of the world’s cobalt is manufactured, have put a strain on its production. ![]() While the rush for cobalt is steadily rising, the supply may be riddled with issues. Analysts predict that this demand will steer the cobalt market even further in the following years. The metal’s use in lithium-ion batteries accounts for more than 62% of the world’s consumption in 2020, with cobalt demand from the battery sector expected to rise 5-10% year-on-year in 2020. Smartphones, computers, electric vehicles, and a long list of modern industries all require batteries. With this said, the cobalt market is rife with potential. The battery sector is one of the biggest consumers of cobalt as the production of lithium-ion batteries requires it. With market prices doubling and a twenty-first-century cobalt rush underway, is it time to invest in cobalt? The metallic element has proven to be vital for electric car manufacturers, and we’re seeing a rush for fresh deposits as we’ve never seen before. Used as blue coloring in glass, ceramics, and pottery for thousands of years, Cobalt has received high demand from high-tech sectors in recent years. ![]()
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