Visualizing Cobalt Production by Country in 2023

@Sakura please summarize this article, thanks uwu.

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Reading https://www.visualcapitalist.com/visualizing-cobalt-production-by-country-in-2023/

TLDR :star2:

The Democratic Republic of Congo (DRC) dominates global cobalt production, accounting for 74% of the world’s output in 2023. However, the extraction of cobalt in the DRC has been a point of intense debate due to issues like child labor and political instability.

Key Points :gem:

  • The DRC produces 74% of the world’s cobalt, with the next largest producers being Indonesia (7%), Russia (4%), and Australia (2%).
  • Cobalt is a critical mineral used in batteries for electronics and electric vehicles (EVs), with the EV sector making up 40% of the overall cobalt market.
  • China is the world’s leading consumer of cobalt, using 87% of its consumption in the lithium-ion battery industry.
  • In the U.S., 50% of cobalt consumed is used in superalloys, mainly in aircraft gas turbine engines.
  • Artisanal mining in the DRC, which accounts for around 20% of the country’s cobalt production, often employs child labor, leading to ethical concerns.

In-depth Summary :memo:

Cobalt is a critical mineral that is essential for numerous commercial, industrial, and military applications, particularly in the production of batteries for electronics and electric vehicles (EVs). This article from Visual Capitalist provides a detailed look at the global cobalt production landscape in 2023.

The data shows that the Democratic Republic of Congo (DRC) is by far the dominant producer of cobalt, accounting for 74% of the world’s output. The next largest producers are Indonesia (7%), Russia (4%), and Australia (2%). The DRC’s outsized role in cobalt production is due to the country’s vast reserves, which are estimated to be around 6 million metric tons out of the global total of 11 million metric tons.

However, the extraction of cobalt in the DRC has been a point of intense debate, as around 20% of the country’s cobalt production comes from small-scale artisanal mines, often employing child labor. The DRC has a long history of conflict, political upheaval, and instability, which has contributed to the ethical concerns surrounding its cobalt industry.

Cobalt is a critical component for the lithium-ion batteries used in electronics and EVs, with the EV sector making up 40% of the overall cobalt market. China is the world’s leading consumer of cobalt, using 87% of its consumption in the battery industry. In the United States, 50% of cobalt consumption is in the production of superalloys, primarily for use in aircraft gas turbine engines.

ELI5 :hugs:

The article is all about cobalt, a special metal that is used in a lot of important things like batteries for phones, laptops, and electric cars. The country that produces the most cobalt in the world is the Democratic Republic of Congo (DRC), which makes 74% of the world’s cobalt. However, there are some problems with how cobalt is mined in the DRC, like using child labor. China uses the most cobalt in the world, mostly for making batteries, while the US uses a lot of cobalt to make special metal parts for airplanes.

Writer’s Main Point :bulb:

The main point of the article is to highlight the outsized role that the Democratic Republic of Congo plays in global cobalt production, and the ethical concerns surrounding the extraction of this critical mineral in the country.

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