Cobalt

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About Cobalt

Cobalt is a metal that has been used for centuries from colouring ceramics and glassware until the 20th century to its increasing use in modern technologies such as aircraft turbines due to its high wear resistant, high temperature strength and unique magnetic properties. To date, it is highly in demand for the use in lithium-ion batteries for electric vehicles and portable devices such as mobile phones. The electric vehicle market is developing rapidly. The International energy agency (IEA) forecasts that there will be 200 million EVs on roads across the globe by 2030, which translates to a cobalt demand growth for EV batteries from 160 000 tonnes in 2021 to 250 000 tonnes in 2030. Despite considerable efforts to reduce the cobalt content in batteries due to its high price and supply risks, it is difficult to substitute its unique properties and it is likely to play an important role in battery technologies of the near future.

Dominant cobalt uses over time and increasing demand from electric vehicles battery. BGS © UKRI. Data from Harper et al., 2012; IEA, 2022.

The second largest use of cobalt is in batteries for portable devices. Such devices dominantly use batteries with a high cobalt content (Lithium-cobalt oxide chemistry with 89% Co), that have a high energy density and give them a long run-time. Cobalt is also used in many other applications, including various alloys, such as superalloys for the aerospace industry and in hard metals (cemented carbide) for hard-wearing cutting and grinding tools. Furthermore, it is used as catalysts chiefly for oil & gas refinineries to remove sulfur. It is also still utilised for colour pigments in ceramics, enamels, inks and glass, for which it has been used since the Antiquity. Other uses include magnets for wind turbines and motor sensors, hard facing, energy storage, tyres, soaps and paint driers.