Therefore, the United States is looking to secure sources of Co, to drastically reduce the Co content in LiBs, or both. Moreover, the United States does not have large reserves for Co, and the extraction and early stage processing is concentrated in a small number of countries outside the United States. This means the supply is not independent of other commodity businesses and introducing new recovery projects is expensive. Cobalt is mined as a secondary material from mixed nickel (Ni) and copper ores.
#Who mines cobalt for batteries drivers
There are economic, security, and societal drivers to reduce Co content. Right now, Co can make up to 20% of the weight of the cathode in lithium ion EV batteries.
EV batteries can have up to 20 kg of Co in each 100 kilowatt-hour (kWh) pack. Electrifying the worldwide automobile fleet with LiBs, however, changes the situation significantly.Ĭobalt is considered the highest material supply chain risk for electric vehicles (EVs) in the short and medium term. Even with the rise in cell phone use, this reliance on cobalt had not been a major hinderance, since only a small amount of Co was needed for these devices. The best combination for many energy storage needs involves a cathode structure that is largely composed of cobalt (Co) ions.
In order to get enough energy from the batteries, LiB cathodes are made of various combinations of transition metals and oxygen in a particular arrangement. This is the cathode, and it’s also the place that lithium ions come from when the battery is charged. To work, these energy storage devices must have a place for the lithium ions to move to when the battery is working. The Mutoshi copper-cobalt mine is expected to begin operating in Q4 2023, and will be the world's third largest cobalt mine.Lithium-ion batteries (LiBs) are the ubiquitous power supplier in all consumer electronics, in all power tools and-as many companies and countries pursue greenhouse gas emission reduction goals-a growing proportion of the global light-duty automobile fleet. Glencore (LSE: GLEN,OTC Pink:GLCNF) has interests in two mines in the African country, Katanga and Mutanda - key producers of cobalt.Īdditionally, in November 2022, Trafigura closed a US$600 million financing that it said "would enable it to complete Congo miner Chemaf's new mechanised mine at Mutoshi, processing plant in Kolwezi, and the expansion of its Etoile mine and processing plant in Lubumbashi." The deal was contingent on enhanced ESG compliance and responsible sourcing awareness and implementation. The DRC is likely to remain crucial to the cobalt market for the foreseeable future. In 2020, the country set up a new state company to buy and market all artisanal cobalt mined in the DRC with the aim of controlling the entire supply chain and boosting government revenue by having more influence on cobalt prices. In response, the London Metal Exchange has taken steps to ensure all producers associated with the exchange follow responsible sourcing guidelines.įor its part, the DRC passed a revised mining law in 2018 that increased taxes on metals like cobalt and copper. However, cobalt mining in the country has been linked to human rights abuses, including child labor. The country has been the top producer of the metal for some time, and reported output of 130,000 MT in 2022.Īs cobalt demand rises, increasing attention is being directed at the DRC. The Democratic Republic of Congo (DRC) is by far the world’s largest producer of cobalt, accounting for roughly 70 percent of global production.
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