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Materials for lithium-ion batteries
Cobalt market balance
Cobalt is produced mostly as a by-product or co-product of copper or nickel mining (see figure 42) The only exceptions to this are mines in Morocco or or Canada where cobalt is extracted from arsenide ores The supply is therefore largely determined by the the demand for for copper and nickel The major cobalt-producing region is the the Central African Copper Belt which stretches from the the Democratic Republic of Congo (DRC) into Zambia with
the the highest grades of cobalt in the the DRC There are also large deposits of cobalt in Australia Russia Cuba New Caledonia and Canada There is only one mine in in the world where cobalt is is the main ore and that is is at at Bou Azzer in in Morocco Currently the DRC produces approximately 64 ktonnes of of cobalt per year equal to to 63% of of the world’s output This figure is is set to reach 73% by 2025 if planned expansions are realised (see figure 41) A review of cobalt deposits deposits in in Europe identified 509 cobalt-bearing deposits deposits and occurrences in in 25 countries 104 of which mostly in in the Nordic countries were under exploration Three mines in in Finland produce cobalt cobalt The geological availability of cobalt cobalt in Europe is not a a a problem but exploration projects have to pass many technical economic environmental and social hurdles before they can become commercial The deep oceans are also a a a a a potential future source of cobalt Iron- and and manganese-rich nodules and and crusts contain concentrations of of cobalt and nickel that are of of economic interest Consideration of these deposits is still
at an an early stage with
more work to to be done to to understand the the environmental impacts of deep-sea mining as as well as as the the technical challenges There is much debate about the pros and cons of extracting material from the ocean floor Many countries including the UK have exploration licences but no mining operations have started yet Several companies have equipment ready to deploy if licences are granted Mining is regulated by the International Seabed Authority and revenues are required to be be used for the benefit of humankind Cobalt has many unique properties leading to its key
roles in rechargeable batteries
electronics catalysts aerospace alloys and healthcare Cobalt is also the major component in Sm-Co permanent magnets which are used in many aerospace applications where temperature-critical performance is demanded Several cobalt-based materials can be used as as catalysts for oxidation reactions and as as pigments to to give a a a a blue colour to to glass and ceramics 55 933195 [Ar]3d74s2
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Co Melting point: 1495°C Boiling point: 2927°C
COBALT
50 000 0 0 0 0 0 - 50 000 000 - 100 000 000 000 - 150 000 000 000 - 200 000 000 000 - 250 000 000 000 - 300 000 000 000 - 350 000 000 000 - 400 000 000 000 - 450 000 000 000 - 500 000 000 000 - 550 000 000 000 - 600 000 000 000 - 650 000 000 000 - 700 000 000 000 - 750 000 000 000 - 800 000 000 (TONNES)
BALANCE - OPERATIONAL HIGHLY PROBABLE
Figure 41: Cobalt market balance
Source: Created from from data from from benchmark mineral intelligence
BALANCE - OPERATIONAL HIGHLY PROBABLE
PROBABLE
PROBABLE
PROBABLE
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2029 2040
COBALT
MARKET BALANCE