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Deep-sea minerals could meet the demands of battery supply chains – but should they?
Aug 3, 2020
Demand for cobalt, and other metals for batteries used in mobile electronics and electric vehicles, is forecasted to dramatically increase. A potential new source of minerals from the deep-sea could enter battery supply chains in under a decade. Deep-sea mining has attracted controversy due to concerns of potential damage to delicate ecosystems before scientists have had chance to assess what is at stake. Electronics and automotive companies that depend on these minerals to build their products urgently need to learn about and engage on the topic, for the viability and sustainability of their supply chains.
The world is hungry for resources to power the green transition. As we increasingly look to solar, wind, geothermal and move towards decarbonization, consumption of minerals such as cobalt, lithium and copper, which underpin them, is set to grow markedly. One study by the World Bank estimates that to meet this demand, cobalt production will need to grow by 450% from 2018 to 2050, in pursuit of keeping global average temperature rises below 2°C.
The mining of any material can give rise to complex environmental and social impacts. Cobalt, however, has attracted particular attention in recent years over concerns of unsafe working conditions and labour rights abuses associated with its production.
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