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> We need 25 times as much cobalt as we currently mine Is that really true? I've lost significant money investing in explorers that hoped the Cobalt price wou

> We need 25 times as much cobalt as we currently mine Is that really true? I've lost significant money investing in explorers that hoped the Cobalt price would stay high. It hasn't, but also its hard to compete with Congo's mines.

mschuster91 2y ago
Well... most current lithium battery chemistries absolutely require cobalt, and given the demand for EVs and grid-scale PV storage there's bound to be a lot of interest for it. Unfortunately for cobalt miners, there's significant r&d investment into chemistries free of materials which are dominantly sourced from questionable countries/conditions - some driven by preparation for trade conflicts, and some driven by law (EU supply chain / anti slavery acts). And that is yielding its first results, e.g. [1]. [1] https://www.global.toshiba/ww/technology/corporate/rdc/rd/topics/23/2311-02.html https://www.global.toshiba/ww/technology/corporate/rdc/rd/to...
- ClassyJacket 2y ago
  But notably, LFP batteries do not use cobalt, which includes the Rear Wheel Drive Tesla Model 3.
  - energy123 2y ago
    Isn't LFP now the dominant chemistry in grid scale storage?
    - danans 2y ago
      Not yet, NMC Li-ion is still the largest represented in grid scale battery storage [1]. Pumped hydro is dominant overall in storage. LFP represents an increasing share of new grid scale battery storage, though [2] 1. https://www.iea.org/energy-system/electricity/grid-scale-storage https://www.iea.org/energy-system/electricity/grid-scale-sto... 2. https://about.bnef.com/blog/2h-2023-energy-storage-market-outlook/ https://about.bnef.com/blog/2h-2023-energy-storage-market-ou...