Cobalt-based Li-ion batteries are produced globally on a massive scale, but most are discarded to landfill at the end of their useful lifetime. In this work, an efficient cobalt catalyst for the hydrolysis of sodium borohydride to dihydrogen was prepared from lithium ion battery waste, providing a second life for valuable minerals. This material is composed of a mixed metal cobalt–aluminium oxide supported on graphene, as elucidated by a combined FTIR, Raman, SEM, scanning transmission electron microscopy with electron energy loss spectroscopy (STEM-EELS) and energy-dispersive X-ray spectroscopy (EDS) study. The obtained metal oxide material, which exhibits an average oxidation state for Co of 2.45, is a languid catalyst at room temperature, but rapid hydrogen production of up to 49 L(H2) min−1 g−1(Co) was observed in catalytic runs heated to 70 °C. This carbon-supported cobalt catalyst is competitive with designed cobalt nanostructured catalysts prepared from pure precursors. This work is illustrative of the opportunities which arise when e-waste is utilised as a mineral resource within the scope of a circular economy.