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Cobalt Market Report: EVs become the major driving force for cobalt demand growth in 2021

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The Cobalt Institute’s Cobalt Market Report 2021 , prepared by CRU, confirms the role of cobalt as one the key commodities of the green future, due to the rapid growth of the lithium-ion battery market and a strong global uptake of electric vehicles. Due to relative market weakness, European prices averaged $2.5

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GlobalData: Global lithium production to triple over the next four years

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per annum, global output is expected to triple between 2018 and 2022 to reach 154kt (metal content), as 86kt of new metal capacity comes on stream to meet the increasing demand for the metal for use in batteries in electric vehicles and smartphones. After moderate growth in lithium supply between 2010 and 2017 of 6.4%

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Cornell study examines trade-off between critical metals requirement and transportation decarbonization

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NMC/NCA scenario illustrates that the market share of NMC/NCA will increase to 100% by 2050. Monotonic growth in global demand for critical metals to 2050 is the most prevalent trend. It’s mainly driven by the electric vehicle market penetration and battery technology development. Zhang et al.

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DRC bans export of cobalt, copper concentrates

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Fastmarkets reported that the Democratic Republic of Congo (DRC) has banned the export of copper and cobalt concentrate. Roskill noted that the DRC has frequently threatened the cobalt market with a ban on the export of unprocessed copper and cobalt concentrates and ores. Almost all cobalt concentrate exports from the DRC are to China.

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Cobalt Institute report: demand for cobalt for batteries grew at annual rate of 10% between 2013 and 2020

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The Cobalt Institute has released its State of the Cobalt Market Report 2020. The Cobalt Institute commissioned Roskill to look at the global trends in cobalt consumption, supply and production in 2020. The report is the most comprehensive publicly available market overview to date. Source: Cobalt Institute.

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IRENA: diversifying critical material supply chains minimizes geopolitical risks

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Although there is no scarcity of reserves for these energy transition minerals, global capabilities for mining and refining them are limited. External shocks, resource nationalism, export restrictions, mineral cartels, instability, and market manipulation could therefore increase the risks of supply shortages.

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Benchmark: China dominates Li-ion battery supply chain

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China dominates the global Li-ion battery supply chain to the extent that removing the country in favor of European or North American alternatives will be difficult, according to analysis by Benchmark Minerals Intelligence. Despite mining less than 10% of the global supply, China refines 95% of it.

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