There was an article today in the Economist about how lithium battery costs have fallen by 98% in three decades. Its good. It made me do some research and write this post.
Batteries play an important role in the global shift towards clean sustainable energy and reducing carbon emissions. Lithium-ion (Li-ion) rechargeable batteries are the most common. They are used in our phones, laptops and predominantly in EV’s since Tesla started the movement in 2008. Li-ion batteries are also used in Energy Storage Power Stations to harvest large amount of electricity generated by renewable energy sources such as Wind and Solar.
Increasing demand for Li-ion batteries has led to developments and production of more powerful, more efficient and less costly batteries.
An important component of almost all Li-ion batteries produced today is Cobalt.
Cobalt is a scarce lustrous mineral. It plays a huge role in stabilizing Li-ion batteries and increasing their energy density. It is rare, expensive and found only in a few places on earth. Philippines happens to be one of the few.
DR Congo by far is the largest Cobalt producing country, accounting for over 60%. The Philippines is the fifth largest with 3.8% of global production. What is even more significant is having an essential energy commodity at home as the world looks to a future of clean renewable energy, moving away from dependence on coal and oil.
Photo Credit : Wikipedia Commons
Data Source: BP Statistical Review of World Energy 2020
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01. World Cobalt Mines Production (Thousand Tonnes) 2015 – 2019
02. Share of World Total Cobalt Production 2019