why is cobalt important in the world right now?

 

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Cobalt is important globally because it is essential for the energy transition, particularly in the production of high-performance rechargeable batteries for electric vehicles, smartphones, and laptops. It is also critical for high-temperature superalloys in aircraft engines, the petroleum industry, and other industrial applications, making it a key strategic mineral for technological advancement and decarbonization efforts. 

Role in the Energy Transition

• Electric Vehicles (EVs):

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A significant portion of global cobalt production goes into lithium-ion batteries, which power electric vehicles. Cobalt helps stabilize these batteries, increasing their lifespan and power. 

The same batteries used in EVs are also found in smartphones, laptops, and other portable devices, highlighting cobalt's widespread impact on technology. 

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Other Critical Uses 

• Industrial Applications:

  Cobalt is used in superalloys for gas turbine engines and other high-temperature applications where corrosion and wear resistance are vital.
• Catalysts and Alloys:

  It functions as a catalyst in the petroleum and chemical industries and is used in cemented carbides, high-speed steels, and magnetic recording media.

Global Supply and Demand

• Concentrated Supply:

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The vast majority of the world's cobalt supply comes from the Democratic Republic of Congo (DRC), with China dominating the refining of the metal. 

Cobalt's importance has led to significant investment and concern over its supply chain, with major technology companies seeking stable and reliable access to the mineral. 

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Impact on Human Health 

• Essential Nutrient: In its biochemical form as cobalamin (Vitamin B12), cobalt is an essential nutrient for humans and animals, involved in crucial bodily functions.

• Cobalt Statistics and Information | U.S. Geological Survey - USGS.gov

  Cobalt (Co) is a metal used in numerous diverse commercial, industrial, and military applications, many of which are strategic and...

  

  USGS (.gov)

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Dive deeper in AI Mode

Consumer Electronics:

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Market Dynamics:

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