Visualizing Cobalt Production by Country in 2023

Published

14 seconds ago

on

May 31, 2024 Graphics/Design:

See this visualization first on the Voronoi app.

Visualizing Cobalt Production by Country in 2023

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Cobalt is a critical mineral used in numerous commercial, industrial, and military applications. In recent years, it has gained attention as it is also necessary for batteries used in cell phones, laptops, and electric vehicles (EVs).

This graphic illustrates estimated cobalt production by country in 2023 in metric tons. The data is from the most recent U.S. Geological Survey (USGS) Mineral Commodity Summaries, published in January 2024.

The DRC Produces 74% of Global Cobalt

The Democratic Republic of Congo (DRC) accounts for 74% of the world’s cobalt output. Although the metal is found on a large scale in other parts of the world, like Australia, Europe, and Asia, the African nation holds the biggest reserves by far. Of the 11,000,000 metric tons of worldwide reserves, it is estimated that 6,000,000 metric tons are located in the DRC.

Countrymetric tonsPercentage 🇨🇩 DRC170,00074% 🇮🇩 Indonesia17,0007% 🇷🇺 Russia8,8004% 🇦🇺 Australia4,6002% 🇲🇬 Madagascar4,0002% 🇵🇭 Philippines3,8002% 🌍 Other Countries21,1009% Total229,300100%

Since around 20% of the cobalt mined in the DRC originates from small-scale artisanal mines, often employing child labor, the extraction of the metal has been a point of intense debate. With a long history of conflict, political upheaval, and instability, the country is often listed among the poorest nations in the world.

Today, the EV sector constitutes 40% of the overall cobalt market.

China is the world’s leading consumer of cobalt, with nearly 87% of its consumption used by the lithium-ion battery industry.

In the U.S., 50% of cobalt consumed is used in superalloys, mainly in aircraft gas turbine engines.

Learn More About Critical Minerals From Visual Capitalist

If you enjoyed this post, be sure to check out The Critical Minerals to China, EU, and U.S. National Security. This visualization shows which minerals are essential to China, the United States, and the European Union.

IoT is Driving Sustainable Battery Surge

Dorian Maillard, Vice President at DAI Magister, explains the challenges and opportunities facing the growing market in efficient, eco-friendly power solutions.

In the expansive landscape of the Internet of Things (IoT), the quest for sustainable power solutions has emerged as a pivotal challenge. With the IoT market forecasted to surpass US$1.6 trillion by 2025, the demand for efficient power solutions has become increasingly pressing. However, the reliance on traditional batteries poses significant environmental and logistical hurdles, driving the imperative for sustainable alternatives.

The IoT market’s exponential growth, fuelled by advancements in connectivity, sensor technologies and data analytics, underscores the critical importance of sustainable power solutions. With over 75 billion connected devices projected to be in operation within the next decade, the reliance on conventional batteries is unsustainable in the long run. The proliferation of IoT devices, ranging from smart home gadgets to industrial sensors, has led to an unprecedented surge in battery consumption. The sheer number of batteries being utilised not only presents challenges in terms of resource depletion but also raises concerns about the environmental impact of battery disposal.

Rising demand for alternatives

Certain sectors within the IoT industry stand out as particularly in need of alternative battery solutions. For instance, industries such as healthcare, where continuous monitoring devices are extensively used, require reliable and long-lasting power sources to ensure uninterrupted operation. Moreover, in industrial settings, where sensors and monitoring devices are deployed in harsh environments and remote locations, sustainable battery alternatives can reduce maintenance costs and enhance operational efficiency. Additionally, in the realm of smart agriculture, where IoT devices are employed for precision farming and environmental monitoring, sustainable power solutions are essential to enable data-driven decision-making and optimise resource utilisation.

Despite efforts to recycle batteries, the process remains inefficient and often results in hazardous waste. Improper disposal of batteries can lead to soil and water contamination, posing risks to ecosystems and human health. In addition, the reliance on finite and environmentally damaging resources, such as lithium and cobalt, further exacerbates the sustainability issue. As the global demand for batteries continues to escalate, concerns over resource depletion, environmental degradation and geopolitical tensions surrounding resource extraction intensify.

The transition to sustainable battery alternatives is not only a matter of environmental responsibility but also a strategic imperative for ensuring the long-term viability of IoT deployments. By reducing reliance on conventional batteries, organisations can mitigate environmental risks, enhance operational efficiency, and contribute

Comparing New and Current U.S. Tariffs on Chinese Imports

Published

2 hours ago

on

May 16, 2024 Article/Editing: Graphics/Design:

See this visualization first on the Voronoi app.

U.S. Announces New Tariffs On A Range of Chinese Goods

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

This week, the U.S. introduced a new series of tariff increases on Chinese imports, amounting to over $18 billion worth of goods.

In the announcement, President Biden said they are aiming to “counter China’s unfair trade practices” by targeting specific sectors where the U.S. is boosting domestic production.

This graphic shows the new and current U.S. tariff rates set on a variety of Chinese imports.

Tariff rates and implementation years for the new rates come from The White House’s May 14 press release announcing the new tariff rate increases. Implementation years for the current rates comes from the Office of the United States Trade Representative (USTR) and United States International Trade Commission (USITC).

Tariff Raises on China Hit EV and Medical Industries

Below, we show the current and new tariff rates, as well as the implementation years for both, for a range of Chinese imports, as of May 14, 2024.

ImportCurrent rateNew rateImplementation year (current rate)Implementation year (new rate) Electric vehicles (EVs)25%100%20182024 Semiconductors25%50%20182025 Solar cells25%50%20182024 Syringes and needles0%50%N/A2024 Some steel and aluminium products*†7.5%25%20192024 Lithium-ion EV batteries7.5%25%20192024 Lithium-ion non-EV batteries*7.5%25%20192026 Battery parts*7.5%25%20192024 Some personal protective equipment (PPE)*†7.5%25%20192024 Rubber medical and surgical gloves*7.5%25%20192026 Natural graphite and permanent magnets0%25%N/A2026 Other critical minerals0%25%N/A2024 Ship-to-store cranes0%25%N/A2024

†Current rate for steel and aluminium products and personal protective equipment ranges from 0 to 7.5%.

*Tariffs implemented in 2019 started at 15% and were reduced to 7.5% in January 2020

The U.S. directed many of its new tariff increases on the Chinese EV industry, targeting imports such as semiconductors, lithium-ion batteries, and other battery parts.

Notably, tariffs on electric vehicles from China were bumped to 100% and new tariffs on certain critical minerals, which are essential for manufacturing battery parts and semiconductors, were introduced.

Medical-related products, such as medical and surgical gloves and certain

Mining Linked to Human Rights Abuses

Investors, companies urged are being urged to increase their focus on the social impacts of the climate-critical sector.

Investors, companies urged are being urged to increase their focus on the social impacts of the climate-critical sector.  Natural minerals underground are essential to the world’s energy transition, but new research has found that their extraction was linked to a surge in human rights-related abuses by mining companies.   International NGO…

Subscribe

Subscribe to ESG Investor to gain access to the leading platform for news, analysis, and interviews across sustainable investing. Select subscribe below to view our subscription packages or you can email us at subscriptions@esginvestor.net to discuss your options.

Subscribe

Request a Trial

Get in touch today to discuss a trial giving you unrestricted and unlimited access to ESG Investor for you and/or your team(s) for a limited period. Email us at subscriptions@esginvestor.net

Recommended for you

Visualizing the Copper Investment Opportunity in One Chart

Published

30 seconds ago

on

May 8, 2024 Graphics & Design Visualizing the Copper Investment Opportunity in One Chart

Copper is essential for clean energy applications such as solar panels, wind turbines, and electric vehicles (EVs), as well as for expanding electrical grids.

The surge in demand for the metal, driven by the growing adoption of these technologies, presents a unique investment opportunity for early investors in copper mining companies.

This chart by Sprott explores the growing gap between copper supply and demand until 2050, based on projections from BloombergNEF’s Transition Metals Outlook 2023.

Projected Copper Supply vs. Demand

Copper is naturally abundant on Earth, but extracting the metal at the pace necessary for an electrified economy could be a challenge. The timeline for bringing a copper mine from discovery to production is lengthy, averaging over 16 years.

Top producers like Chile and Peru are facing strikes and protests, along with declining ore grades. Russia, ranked seventh in copper production, faces an expected decline in production due to the ongoing war in Ukraine.

Meanwhile, the increasing adoption of carbon-free technology only highlights copper’s significance. 

High Demand for Transport and Electricity Grid

The demand for copper in the transport sector is projected to increase by 11.1 times by 2050, from 2022. EVs, for example, can contain more than a mile of copper wiring.

Additionally, the demand for copper needed to expand the global electricity grid is projected to increase by 4.8 times by 2050, from 2022.

By 2030, the copper supply gap is projected to approach 10 million metric tons, with both copper prices and copper mining stocks potentially set to benefit.

As the world embraces clean technologies, the search for and expansion of copper mines will be essential. Early investors who gain exposure to copper miners may benefit from the rapidly increasing demand.

Sprott offers convenient exchange-traded alternatives for investors seeking exposure to copper miners. 

You may also like