Cobalt supply must double by 2030 to meet demand – Trafigura exec.
[Reuters] Cobalt supply will need to double by 2030 from current levels to meet surging demand for the key ingredient used in electric vehicles, commodity trading house Trafigura’s head of nickel and cobalt trading said.Socrates Economou told an online conference hosted by the Financial Times:
We estimate that we need twice as much (cobalt) supply by 2030.
Economou added that artisanal supply of cobalt, which is mined in the Democratic Republic of Congo, will likely reach 10,000 tonnes compared to 20,000 tonnes in 2019.
🔥 What about we co-host a webinar? Let's educate, captivate, and convert the battery economy!
Batteries News is the global go-to online magazine for the battery industry, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details
Total supply of cobalt in 2020 was 126,500 tonnes, according to consultancy Benchmark Mineral Intelligence.
READ the latest Batteries News shaping the battery market
About Trafigura
Trafigura makes trade happen. And we make it our mission to do that responsibly. We deploy infrastructure, skills and our global network to move physical commodities from places they are plentiful to where they are most needed.
We have been connecting our customers to the global economy for a quarter of a century. We grow prosperity by advancing trade.
Throughout our 25-year history, we’ve prospered by questioning the status quo. In the early years, we were one of a few trading firms challenging the traditional dominance of the big institutions. We developed new markets and helped to redefine the way commodities were traded.
UPDATE 1-Cobalt supply must double by 2030 to meet demand – Trafigura exec, LONDON, June 16, 2021
