Cobalt demand in clean energy tech seen up 460% by 2050, World Bank says

The production of cobalt may need to increase by 460% from 2018 levels over the next three decades to meet the growing demand for clean energy technologies, according to a report by the World Bank.

Cobalt demand in clean energy technologies is seen rising from 140,000 tonnes to 644,000 tonnes by 2050, the report estimated.
This is based on the wind, solar and geothermal power, as well as energy storage, required for achieving a below 2 ?C future, the World Bank said.

But growth in demand for cobalt, a key raw material used in batteries for electric vehicles, could also carry supply risks, as more than 60% of cobalt production is concentrated...

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