Cobalt: the global strategic rush

Global demand for cobalt is exploding. +11% since January, according to the Cobalt Institute, to reach 227,000 tonnes in 2025. This is almost three times more than in 2024, when the increase was just 4%.

Behind this leap, an obvious driving force: the energy transition, and in particular the batteries used in electric vehicles. In the first quarter alone, sales of electric cars rose by 22% in Europe, 16% in the United States and 36% in China. This momentum is boosting demand for critical metals, including cobalt.

But this market tension is also fueled by a supply shock. In February, the Democratic Republic of Congo – which supplies two-thirds of the world’s cobalt – suspended exports for four months. As a result, markets are in turmoil, prices are rising, and supply chains are under pressure.

Against this backdrop, geopolitical issues mingle with industrial imperatives. Automotive giants are looking to secure their access to this strategic metal, sometimes by forging direct agreements with African producers, sometimes by exploring alternatives or recycling channels.

Ultimately, cobalt has become a geostrategic asset: essential for decarbonization, but fragile due to its geographical concentration and political uncertainties.

source: Le monde