ISSUE 3/2024

Cobalt has a vital role to play in helping Europe to strengthen its industrial policy and competitiveness. The new European leadership should unleash cobalt's potential to ensure economic security and green prosperity in Europe.

Cobalt Institute’s Head of Government and Public Affairs, Mike Blakeney , argues a new legislative mandate, focusing on growth and eliminating unnecessary red tape, presents an opportunity to enable the cobalt industry to supercharge the EU’s industrial goals, to facilitate green and digital transitions, and to enhance economic security.

Europe needs cobalt; for defence and security, for its green ambitions, and for circularity.

That is why the Cobalt Institute is delighted to publish its manifesto for the 2024 European Elections.

In our manifesto, we call on the new European leadership to strengthen its industrial policy by establishing higher-incentives and promoting lower-barrier economies that will help the EU cobalt industry thrive.

We also caution against continuing to introduce unnecessary barriers and creating regulatory uncertainty.

While competitors abroad offer attractive incentives and investment opportunities, cobalt businesses operating in the EU face an uphill battle to secure funding and expand their operations. The new European leadership urgently needs to engage far more proactively to harness the EU cobalt industry’s potential.

Read the manifesto

Connect with Mike on LinkedIn

RESOURCES

Q1 2024 Cobalt Market Update

The Cobalt Institute commissioned Benchmark – the leading business intelligence and market analysis agency – to look at the global trends in cobalt consumption, supply and production in Q1 2024. The quarterly cobalt market update provides an analysis of the trends driving the demand and supply for cobalt.

ESG requirements for nickel and cobalt producers

This joint Cobalt Institute and Nickel Institute webinar gave stakeholders an overview of the ESG requirements for nickel and cobalt used in e.g., EV batteries and in stainless steel, as formulated in the EU Battery regulation, in public-private partnerships such as the Global Battery Alliance or in global industry initiatives such as ResponsibleSteel.

Cobalt Institute 's Susannah McLaren set out the cobalt industry’s perspective on ESG issues under discussion, as well as the main drivers and expectations of this debate.?

Key highlights:

• In 2022, Indonesia became the second largest cobalt producer, produced as a by-product of nickel. The country has potential to increase cobalt supply by 10 times by 2030, with new projects being announced on a regular basis.?
• However, the rapid ramping up of production, coupled with Indonesia growing in importance for the future of the cobalt and nickel markets, also bring significant challenges in environmental, social, and governance (ESG) aspects that need to be carefully managed.?
• There are differing drivers dictating stakeholder expectations in ESG performance. Common across all stakeholders is the expectation that Indonesia ensures its nickel and cobalt industries grow not only rapidly, but also safely, sustainably, responsibly and transparently.

Watch the webinar recording

UPCOMING EVENTS

Meet Cobalt Institute at the OECD Forum

If you’re at the upcoming OECD Forum on Responsible Mineral Supply Chains (21-24 May, Paris) let’s meet!

Cobalt Institute staff who’ll be there include:

• Susannah McLaren , Head of Responsible Sourcing & Sustainability?
• Tom Fairlie , Senior Sustainability Manager
• Vivienne Zhou , Responsible Sourcing & Sustainability Officer

Cobalt Institute co-hosts:

• 24 May / 11:15 AM / CC18. Sustainability Standards Roundtable (Cobalt Institute | Nickel Institute | International Lithium Association | Responsible Critical Minerals Initiative | Drive Sustainability) – invitation only.

Cobalt Institute speaks:

• 23 May ?| 5:30 PM | Auditorium. Bridging the Cooperation Gap in Critical Battery Minerals: Harmonising sustainability data across the value chain (Global Battery Alliance).

If you would like to sit down with Susannah, Tom or Vivienne please contact Vivienne Zhou ([email protected] ) so we can schedule a time.

SEE YOU AT THE COBALT CONGRESS IN NEW YORK!