According to the data released by the U.S. Geological Survey the global mine cobalt production in 2021 was record high at 170,000 tonnes, a 20% increase over 2020 .
The Democratic Republic of the Congo continue to lead as the world’s largest cobalt producer in 2021, surpassing 70 Percent of the global cobalt supplies. DRC has reported over 22% cobalt at at 120,000 ton.
Cobalt is an indispensable metal and essential part of the lithium-ion batteries that give electric vehicles the range, long life and durability .
Albanian Minerals CEO Sahit Muja said, ” Global sales of electric cars have kept rising strongly in 2022 Cobalt is critical to the renewable energy transition. Giving it an essential role in the transition from fossil fuels to green energy cobalt is powering the conversion to green technologies”
The most of the electric vehicles use these battery chemistries in lithium-nickel-manganese-cobalt-oxide. The majority of the batteries containing close to 20 percent cobalt. Their high specific power and long-life suit electric vehicles as well as power tools and e-bikes.
Lithium Cobalt batteries have a high cycling rate which, combined with high capacity and high power, suits them ideally for use in electric vehicles. NMC batteries also have the lowest self-heating rate of the different types of lithium-ion batteries.
Cobalt metal used in numerous diverse commercial, industrial, and military applications, many of which are strategic and critical. On a global basis, the leading use of cobalt is in rechargeable battery electrodes. Superalloys, which are used to make parts for gas turbine engines, are another major use for cobalt.
Cobalt is also used to make airbags in automobiles; catalysts for the petroleum and chemical industries; cemented carbides (also called hardmetals) and diamond tools; corrosion- and wear-resistant alloys; drying agents for paints, varnishes, and inks; dyes and pigments; ground coats for porcelain enamels; high-speed steels; magnetic recording media; magnets; and steel-belted radial tires.
Governments and business around the world invest in green technologies, aiming to become carbon neutral in the most efficient way. Electric mobility is part of the solution to tackling climate change and building a green economy. Cobalt is a raw material that is essential for modern, high-performing batteries, and therefore, uptake of electric vehicles.
