Cobalt, a strategic metal essential for the production of rechargeable batteries in electric vehicles (EVs) and energy storage systems, has emerged as a fundamental pillar in the transition to a green economy. The growing global demand for cobalt, driven by the accelerated electrification of transport and renewables, has made the metal attractive to investors looking to capitalize on a market with sustained growth and high returns.
Currently, more than 70% of the world’s cobalt comes from the Democratic Republic of Congo (DRC), a country that, despite its abundant resources, faces significant challenges in terms of political instability, human rights, and sustainability. This has prompted many investors to seek cobalt mining opportunities in other regions, such as Latin America and North America, where sustainable mining initiatives are gaining traction.
In Chile, a country with vast mineral resources, a pilot project to extract cobalt is underway in the Atacama region, an area known for its reserves of salt flats rich in lithium and other minerals. The project, led by the company Cobalt Chile, aims to explore the feasibility of extracting cobalt together with lithium, using responsible and sustainable mining technologies. The integration of these two essential metals in the same value chain will increase economic efficiency and reduce operating costs. In this way, Chile is positioned as a strategic alternative to cobalt from the DRC.
Globally, cobalt is being considered a key metal for the future of lithium-ion batteries, which power everything from electric cars to mobile devices. As governments around the world step up their efforts to reduce carbon emissions, demand for electric and energy storage vehicles continues to rise, portending a continued and growing need for cobalt. This opens a window of opportunity for investors looking to get involved in an expanding market.
Fuentes: Cobalt Chile, World Economic Forum, International Energy Agency (IEA), Financial Times.
The project in Atacama uses innovative technologies such as selective leaching, which allows cobalt to be extracted more efficiently and with less environmental impact compared to traditional methods. In addition, the project’s approach is aligned with environmental best practices, promoting responsible management of water resources and the protection of local ecosystems.
