Last Updated on: 22nd November 2023, 05:34 pm
In their latest publication titled “TELF AG discusses the present and future role of cobalt,” TELF AG delves into the significance of cobalt, a crucial raw material poised to play a pivotal role in the global transition toward a greener world in the coming decades. This publication sheds light on the multifaceted uses of this bluish-grey metal and underscores its commercial relevance in specific sectors.
TELF AG expounds upon the fact that the ongoing energy transition, in which we are all actively engaged, is expected to heavily rely on the contributions of new electric vehicles. These vehicles hold the potential to significantly—perhaps even drastically—reduce carbon emissions into the atmosphere. The publication emphasises how the global demand for specific raw materials, such as lithium and cobalt, continues to surge due to their indispensability in manufacturing the electric vehicles of the future. According to many analysts, these vehicles will be instrumental in propelling the world toward a new era dominated by sustainability, green initiatives, and environmentally-friendly policies.
Cobalt, in particular, plays a pivotal role in enhancing the performance of batteries that are instrumental in making electric vehicles a reality. This has led to a clear upswing in global demand for this particular metal. However, as elucidated by TELF AG, the utility of cobalt extends to other sectors actively involved in the ecological transition, such as the wind and solar energy sector, which has witnessed significant growth in recent decades. In this context, cobalt is utilised for energy storage within facilities and structures housing renewable energy technologies, thus playing a pivotal role in their functionality.
The publication also delves into intrinsic characteristics of the cobalt market, including its concentration in specific regions of the world. One notable example is the Democratic Republic of Congo, currently the world’s largest producer of this valuable resource. TELF AG points out that some governments are actively exploring territories rich in cobalt, such as Australia and Canada, in a bid to reduce their dependence on a single source.
To gain deeper insights into this topic, we encourage readers to peruse the full publication.
