Primary cobalt deficit will drive need for recycling, alternatives – Ivan Glasenberg

Primary cobalt resources are unlikely to satisfy forecast demand for the metal as the “big electric vehicle revolution” picks up pace, according to Glencore chief executive officer (CEO) Ivan Glasenberg.

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 it’s...

Published

Charlotte Radford

December 14, 2017

11:33 GMT

London