Creation Inn quoted in Chemistry World on cobalt recycling
In a very well written article, Chemistry World is giving an in-depth overview of the cobalt market and how it's currently driven by the rapid growth in lithium-ion batteries. The article features Creation Inn's report Circular opportunities in the lithium-ion industry and Hans Eric Melin is giving his view on the impact of recycling including the two important trends we currently are highlighting, that all batteries go to China (or Korea) and that second life will absorb a large portion of the EV batteries:
"The best recyclers will most likely emerge in China, since that is home to two-thirds of cathode makers. China also refined around 57% of cobalt material last year, and produced over 80% of the cobalt salts needed for batteries. Melin’s view is that Chinese firms already reuse much of the cobalt in today’s lithium ion. He says it would be a huge mistake for Europe and North America to think of used lithium ion batteries as waste. ‘An electric vehicle is like a battery on wheels. The battery is that important.’ Most electric vehicles today are sold at a loss. ‘Second life could be an area where the car makers start to make money on the batteries, using them in utility storage applications,’ Melin adds."