Roskill says that cobalt production emissions are supported by increased demand from the EV sector and the dominance of nickel laterite in the supply chain.
Researchers say the production of lithium, cobalt, and graphite must expand dramatically to meet the demand enabled by high levels of electric vehicle manufacturing.
Goldman Sachs this week raised its 12-month target for copper to $11,000 a tonne, while Citi recommended clients take on bullish copper exposure over the next few weeks.