Cobalt demand from the EV sector
will reach 314,000 tonnes by 2030, equivalent to 314% of 2016 supply, according to forecasts used by Glencore.
The potential to increase cobalt output from existing projects globally is insufficient to satisfy the expected surge in demand, meaning the EV industry may have to look at alternatives to meet its requirements, Glasenberg said in an investor call this week.
“Recycling could potentially take place that could assist [with meeting demand]…but if [demand is] as big as they think...
