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Congo

Cobalt crisis forces Koreans to act

Mon, 07/31/2017 - 10:23 -- News Editor
Cobalt crisis forces Koreans to act

Amid growing demand for the lithium-ion batteries that power electric vehicles and smartphones, cobalt, the key energy metal, has seen a decline in production this year driven mainly by the unstable political situation of the Democratic Republic of Congo, which accounts for more than half of global cobalt production.

This month, the price of cobalt came to $61,000 per ton, a 90% jump from early in the year, according to industry data.

Photo credit: The Carter Center: G. Dubourthoumieu

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