Abstract: Cobalt is an important material for new energy. It has many irreplaceable uses in the development of modern industry. Both the United States and the European Union have included cobalt in the list of key minerals and materials affecting national and regional security and future economic development. This paper introduces the current situation of global cobalt resources and their application. The supply and demand situation and price trend of cobalt resources were analyzed. The distribution of global terrestrial cobalt resources is uneven. Over 80% of the global terrestrial cobalt resources were distributed in a few countries, such as Congo (DRC), Australia, Cuba, Zambia, Philippines, Canada and Russia. Cobalt is seldom mineralized independently, and mostly occurs as associated metals of copper, nickel and iron ores. In recent years, the rapid development of electric vehicles has led to the growth of cobalt demand. In 2018, the cobalt mineral production increased to 135 600 tons. The cobalt price reached to 94 800 dollars per ton. In 2019, the global cobalt mine market was in excess and the price fell. However, according to the new energy vehicle development plan of the world's countries, the global cobalt mine faces the possibility of long-term shortage.