High-performance batteries require significant cobalt resources. Lithium cobalt oxide (LiCoO2) is widely used in lithium ion battery cathodes.
“Cobalt is a classic “technology metal.” It’s an indispensable raw material for a wide variety of highly sophisticated processed materials including superalloys, hard metals, cemented carbides, catalysts, pigments, permanent magnets, and food additives. It’s also an indispensable raw material for the mixed metal oxide cathode powders used in all high-energy lithium-ion batteries.” 
Cobalt Market Supply:
The rapidly expanding markets for rechargeable batteries and renewable energy in the United States and around the world have sparked an unprecedented demand for cobalt, which reached $8 billion in 2017.  Much of the world’s cobalt supplies come from areas of the world plagued by political conflict and marked by child labor, making ethically responsible cobalt sourcing difficult. 
Given the demand being driven by Tesla, BMW, Volkswagen, Panasonic and other industry leaders for high-performance batteries that can power the growing electric vehicle market, it is critically important to secure and grow an industry around a large and stable source of cobalt that can be ethically and reliably produced in the United States.
The Madison County, MO, mine owned and operated by Missouri Cobalt holds an estimated 35 million pounds of recoverable cobalt, likely making it the largest such reserve in North America. The company is committed to reliable, on-time delivery of clean and ethically-produced cobalt that will support the advancement of America’s renewable energy resources.
Facts About Cobalt
Atomic number: 27
Atomic symbol: Co
Atomic weight: 58.933
Density: 8.86 grams / cubic cm
Melting point: 2723˚F / 1495˚C
Boiling point: 5301˚F / 2927˚C
 Shilling, Erik (2017-10-31) We May Not Have Enough Minerals To Even Meet Electric Car Demand. jalopnik.com
 Hermes, Jennifer. (2017-05-31) Tesla & GE Face Major Shortage Of Ethically Sourced Cobalt. Environmentalleader.com. Retrieved on 2018-01-07.
 Peterson, John L. (2019-07-03) The Cobalt Cliff Could Eradicate Non-Chinese EV Manufacturing Before 2030. Seekingalpha.com. Retreived on 2019-09-11