This research paper sheds light on the key risks associated with the supply of cobalt, a critical mineral for the production of electric vehicle (EV) batteries. With demand for EVs projected to grow steadily in the coming decade, it is crucial that companies mitigate these risks. The concentration of finite cobalt reserves in the Democratic Republic of the Congo (DRC) and the concentration of refining capacities in China create a delicate balance of supply that is highly risk prone.