09/03/2022
Let's talk a bit about Cobalt!
First off, if you're reading this on a mobile phone, tablet or laptop, you should know that without this mineral, being a key component of your battery, you probably wouldn't be able to read this. To appreciate this point, think of the billions of people world over who use these and even more cobalt-embedded devices. Thanks Cobalt!
So what really is this mineral?
Cobalt is a silver-grey, hard and lustrous metal that is only found in the Earth’s crust in chemically combined form.
Cobalt is therefore primarily mined as a byproduct of nickel and copper mining. From there, cobalt is produced by reductive smelting.
It is primarily used in lithium-ion batteries, which are needed for electric devices such as laptops and electric cars.
Since the 1960s, the world’s cobalt mine production has been focused in the Democratic Republic of the Congo. Today, about 60 percent of the global cobalt resources come from the DRC. (Source: Statista)
The Global Cobalt Market size was estimated at USD 8,572.49 million ($8.5b) in 2021, and is projected to grow at a CAGR of 12.45% to reach USD 17,393.70 million ($17.4b) by 2027. This is according to a report by PR Newswire.
Here's the thing: Axalio realizes the seeming maze or difficulty people face in getting involved in this value chain and making a profit off it. We're on a mission to demystify the route-to-business of this and such other God-given wealth in Africa and unlock same for every Axalian globally.
Want to earn the right to be called an Axalian? Join our waitlist here: app.axalio.com
Meanwhile, Axalio is Coming!