Christmas Day included watching a recent Joe Rogan 2 hour Spotify podcast with a Siddarth Kara (SK).
I am a Joe Rogan fan, but this was on another level as the guest exposed/shed light on what could turn into a "black swan" for the whole tech sector, unless the vested interests can bury it.
The subject was a book about to be released next month, about the alleged use of slave labour being used and the work conditions in the Congo, to mine cobalt.
Broad brush dots for joining:
1) E/v's @ require approx 10kg of cobalt (vs 10gms for a typical laptop/phone/ipad/microchips, etc) so demand for the raw material will rise exponentially if E/v production steps up as intended. Data according to SK.
2) Basically all lithium batteries require cobalt for performance/stability.
3) 75% of the world's cobalt reserves are in the Congo -according to SK.
4) 75% of Congo cobalt is controlled by Chinese interests, and 25% by Glencore (UK/Swiss). i.e zero US interests. - according to SK.
Questions:
# Could the recent drop in lithium prices, relate to the US/Euro realising that having confronted Russia/China, they have almost no friendly cobalt supply of substance - problem #1?
The USA are currently "offside" with Russia, China, Middle East, Africa, South America, India & Pakistan. They can't produce their own oil now, because their politicians have put the accelerator down on "climate change"/fossil fuel bad narrative.
# If this alleged slave labour of cobalt mining is to be resolved, it can only come at a financial cost. Could that price E/V's and tech products off the market - problem #2.
If this issue gets traction (Rogan podcasts get millions of views) from exposure via the podcast and the book release, we may get the "black swan" event via a human rights backlash - problem no#3?
If the western allied countries can't produce computers and electric vehicles at an affordable price without using slave labour,or worse can't even secure an adequate supply of cobalt - Houston we may have a problem.
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