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

by Eric Olander

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.

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