Benedikt Sobotka on the Rising Demand Associated with Cobalt

Written by Posted On Sunday, 04 August 2019 18:13
Benedikt Sobotka, CEO of “Eurasian Resources Group” Benedikt Sobotka, CEO of “Eurasian Resources Group”

Summary: Eurasian Resources Group plans to become one of the largest producers of cobalt globally 

Benedikt Sobotka: “New materials must be produced according to ethical norms”

Cobalt is the key ingredient for lithium-ion batteries, and is found in electric vehicles, and most of today’s gadgets and electronic devices. 

Demand for cobalt sharpened due to the booming electric car industry. 

Over the last few years, the demand for cobalt has increased significantly. One of the main reasons behind this cobalt boom comes as a result of increased demand and production of electric vehicles.

The batteries for electric cars are larger than the ones found in smartphones or tablets. Electric car batteries weigh on average approximately 20 kg. According to researchers, the global reserves for cobalt were estimated at 6 million tonnes three years ago, a considerable amount of which is found in the Democratic Republic of the Congo (DRC).  The country is also an area of focus for Eurasian Resources Group’s cobalt mining activities. 

Benedikt Sobotka: “It remains our priority to ensure that everyone who is involved in cobalt mining benefits from the rising demand for alternative energy sources”.

Commenting on the importance of conducive and safe working conditions, Mr. Sobotka, CEO of Eurasian Resources Group, said: “Our main priority is to ensure that everyone can benefit from the rising demand on alternative energy sources. That is why it is our responsibility to ascertain that the materials are being sourced and produced according to the highest ethical standards.” 

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