Cobalt production is essential in supporting energy storage and electrification initiatives in the global transition to a low-carbon economy. The main aspects of cobalt production are examined through assessment of global demand and supply, the common geological settings and mineral processing routes, and the associated situated environmental, social and governance (ESG) risk factors. The supply risk of cobalt is high, owing to its primary extraction as a by-product during copper and nickel production from several deposit types. Concurrent ESG risks create additional complexity at the development and operational stages. The immediate forecast trend is an increase in global demand for cobalt accommodated by a corresponding increase in the production. However, reducing the supply risk and mitigating the complexity of the ESG dimensions of currently undeveloped ore sources is key for sustainable metal production. Future cobalt projects’ concurrent and innate interaction with different risk factors can only be managed if changes to mining operations are made, together with regulation of artisanal mining and reprocessing of mine waste streams for cobalt.