As it happens, it seems Australia is a pretty good source of all three current materials:
Cobalt-rich minerals are found in just a few places6. The Democratic Republic of the Congo (DRC) supplied more than half (56%) of the 148,000 tonnes of the metal mined worldwide in 2015 (ref. 6). Most of this goes to China, which holds stockpiles of 200,000 to 400,000 tonnes6. Australia hosts 14% of the world’s cobalt reserves but has yet to exploit them fully. Cobalt has been extracted from the deep sea floor, but mining here would be too expensive, ecologically and economically.
Likewise, nickel production is dominated by a dozen nations. In 2017, Indonesia, the Philippines, Canada, New Caledonia, Russia and Australia together supplied 72% of the 2.1 million tonnes mined globally. Of this, less than one-tenth went to batteries; the rest was used mainly in steel and electronics. Nickel is cheaper to extract than cobalt, through a series of reactions with hydrogen and carbon monoxide7. Nonetheless, rising demand has boosted nickel prices by about 50% since 2015, from $9 to $14 per kg.
Both cobalt and nickel have suffered sudden price hikes and crashes. For example, disrupted Australian supplies, increased demand from China for steel and speculation by hedge-fund managers led to a five-fold surge in the price of nickel and a tripling of that for cobalt in 2008–09.
Projected shortfalls
If nothing changes, demand will outstrip production within 20 years. We expect this to occur for cobalt by 2030 and for nickel by 2037 or sooner.