A Comparison of Terrestrial and Seabed Mineral Resources for Cobalt

Recent focus by terrestrial mineral explorers (and investors) on cobalt has increasingly highlighted the future critical need for this metal, with new-age batteries being the primary utilisation. We present an overview of the world’s current terrestrial cobalt resources and put this in perspective of currently known seabed resources, particularly polymetallic nodule and crust deposits. We focus on comparison of the key exploration, development and exploitation risks for such deposits, and provide a framework for financial evaluation and appraisal.