Nickel 28 Capital Corp.
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Box 48, 66 Wellington Street West, Toronto, ON M5K 1E6
info@nickel28.com
The Importance of Cobalt to the Modern Economy
Cobalt is a critical mineral that plays a vital role in the global economy across a variety of commercial, industrial and military applications.
In particular, electric vehicles made up 45% of cobalt demand in 2023 and electric batteries account for at least 93% of cobalt demand growth, according to the Cobalt Institute.
It is classified as a critical mineral in both the USA and EU.
Cobalt in battery technology
Cobalt’s role in lithium-ion batteries, essential for electric vehicles, smartphones, laptops and other portable devices, is crucical for three primary reasons:
- Enhanced Energy Density: cobalt, particularly when combined with nickel, contributes to higher energy density in lithium-ion batteries. This translates to longer driving ranges for electric vehicles and extended battery life for electronic devices
- Stability and Longevity: cobalt-based cathodes provide stability and a long cycle life, allowing batteries to undergo numerous charge and discharge cycles without significant capacity degradation
- Voltage Stability and Fast Charging: cobalt-containing batteries maintain stable voltage output and can handle high charging rates, which is vital for the consistent and reliable performance of electric vehicles and fast-charging capabilities
As the demand for electric vehicles and renewable energy storage solutions grows to meet net-zero targets, so cobalt's role in battery technology underscore’s it’s importance to the global economy.
Cobalt in Superalloys and Aerospace
Superalloys offer increased strength, durability, and temperature resistance. In particular, they are developed for use to create surface stability at extremely high temperatures that can cause severe mechanical stress.
Applications include: jet engines, gas turbines, space vehicles, rocket motors, nuclear reactors, power plants and chemical equipment.
There are three main classes of superalloys — cobalt-base, nickel-base and iron-base — but compared with other options, cobalt-based superalloys offer a high melting point, high-temperature corrosion resistance and stablility, as well as optimal welding performance.
Cobalt in Medical and Dental Devices
Cobalt also plays an essential role in healthcare, with cobalt-chromium alloys widely used across orthopedic and dental medical implants, such as hip and knee replacements, as well as dental crowns.
Cobalt-chromium alloys have high strength, high resistance to wear, and biocompatiability that provide reliable and long-lasting medical solutions for patients.
Cobalt in Permanent Magnets and Electronics
Cobalt is also used to enhance the strength of high-performance magnets, such as samarium-cobalt magnets, which are used in electric motors, wind turbines, and high-end audio equipment.
These magnets are crucial for the efficient conversion of energy and precision control.
Additionally, cobalt is a key component in electronic circuits, semiconductors, and other digital technologies, powering our the growth of data centers and Artifical Intelligence.
Conclusion
Cobalt is indispensable to the global economy, with its applications spanning battery technology, aerospace, healthcare, and electronics. Its role in the green economy and the transition to renewable energy further underscores its importance to a sustainable future.
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