The global cobalt market is led by a few countries, with the Democratic Republic of Congo (DRC) at the top. It produces a huge 70% of the world’s cobalt¹. In 2023, mines like Kisanfu and Metalkol RTR in the DRC made over 134 thousand tonnes of cobalt². Other big producers include Russia, Australia, the Philippines, and Canada, all key in meeting global demand.

Biggest Cobalt Producers in the World 2023

Key Takeaways

• The Democratic Republic of Congo (DRC) dominates the global cobalt production, accounting for over 70% of the world’s supply.
• Major cobalt mines in the DRC, such as Kisanfu, Metalkol RTR, and Tenke Fungurume, produced over 134 thousand tonnes of cobalt in 2023.
• Other significant cobalt producers include Russia, Australia, the Philippines, Cuba, Madagascar, Papua New Guinea, and Canada.
• Cobalt is a critical metal used in the manufacture of electronics and electric vehicle batteries, making the top producing countries crucial players in the global supply chain.
• Understanding the distribution of cobalt production globally is essential for businesses and industries reliant on this strategic mineral.

Democratic Republic of Congo: The Cobalt Powerhouse

The Democratic Republic of Congo (DRC) is the top producer of cobalt, making over 70% of the world’s supply³. The cobalt industry in the DRC is worth billions of dollars and is set to grow even more by 2030³. This growth is mainly because of the increasing demand for electric vehicles, which need cobalt for their batteries³.

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Largest Cobalt Mines and Operations

In the DRC, some of the biggest cobalt mines are found, like the Kisanfu Mine, Metalkol RTR Project, and Tenke Fungurume Mine³. These mines play a big role in the DRC’s leading position in the global cobalt market, meeting a lot of the world’s cobalt needs.

Artisanal Mining and Its Challenges

The DRC also has a big artisanal mining sector, making up 15-30% of its cobalt production³. But, this sector faces big challenges like dangerous working conditions, low pay, and exposure to harmful substances. It often takes advantage of the economic struggles of Congolese people³.

China’s Influence on Congolese Cobalt Trade

China plays a big role in the DRC’s cobalt trade, aiming to get a steady supply for its battery industry³. The low cobalt prices are partly due to the use of forced labor in the DRC’s cobalt mines³.

The DRC’s cobalt is crucial for the global shift to green energy. But, its mining sector has faced conflict, instability, and human rights issues. These problems need to be solved for a fair and sustainable cobalt supply chain⁴.

“The lives of Congolese individuals working in the cobalt industry are often marked by hazardous conditions, low wages, and exposure to toxic substances.”

Russia: A Distant Second

The Democratic Republic of Congo (DRC) leads the world in cobalt production. Russia comes in second, producing about 4% of the world’s cobalt in 2019, or 6,100 metric tons⁵. Most of Russia’s cobalt is found in the Altai Republic, especially in the Karakul deposit, one of its biggest sources⁵.

Norilsk Nickel is Russia’s top cobalt producer⁵. The company mines in the Norilsk region, a key mining area in Siberia, greatly adds to Russia’s cobalt output⁵.

Major Cobalt Deposits and Mines

• Karakul Cobalt Deposit: A major cobalt source in Russia, found in the Altai Republic.
• Norilsk Nickel Cobalt Operations: The company’s work in the Norilsk region is a big part of Russia’s cobalt production.

“Russia’s cobalt production, while significant, remains dwarfed by the DRC’s dominance in the global market. The country’s mining industry continues to explore and develop new cobalt projects to enhance its position in the growing demand for this critical metal.”

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Australia: Tapping into Significant Reserves

Australia is a key player in the cobalt mining world, ranking third globally and having the second-largest cobalt reserves⁷. In 2019, it produced 5,100 metric tons, or 3.6%, of the world’s cobalt⁷. With vast reserves of 1.2 million metric tons, Australia is set to boost its cobalt production in the future⁷.

The demand for cobalt is expected to grow fourfold by 2040, showing huge potential in this field⁷. To hit the 2050 target, we’ll need 17 new cobalt mines worldwide⁷. Australia’s rich reserves and investments in critical minerals make it a key player in meeting this demand⁷.

Today, Australia has 81 major critical mineral projects worth up to $42 billion, showing its commitment to its reserves⁷. Processing more of these resources could boost the economy by $133.5 billion and create 262,600 jobs by 2040⁸.

But, Australia faces hurdles, like China’s control of rare earths and its large purchase of Australian spodumene last year, up 28.5% from before⁷. Developing domestic processing is key for Australia to use its cobalt reserves and grow economically⁸.

As global demand for critical minerals grows, Australia’s cobalt reserves and strategic position offer a big chance for it to lead in the cobalt mining industry⁷⁸.

Glencore’s Murrin-Murrin: Australia’s Cobalt Giant

Glencore’s Murrin-Murrin mine is in Western Australia and is the biggest cobalt mine there. In 2023, it made about 13.87 thousand metric tons of cobalt. This makes it a big part of Australia’s cobalt production⁹. Glencore runs the mine and follows the OECD’s rules for responsible minerals⁹.

The mine uses a special way to get cobalt from pyrite. This method cuts costs and helps the environment by not making acidic waste¹⁰. This method is unique because most cobalt isn’t taken out as the main product¹⁰.

About 16% of the world’s cobalt is in Australia, but it only makes 5% of the world’s cobalt¹⁰. Australia wants to be a big player in the cobalt market. It plans to refine cobalt from different projects, like the Broken Hill area. This area will make about 4,000 tonnes of cobalt a year for over 20 years¹⁰.

Glencore’s Murrin-Murrin shows Australia’s growing role in the cobalt industry. By refining cobalt locally, Australia aims for ethical sourcing and clear supply chains¹⁰.

“Glencore is a leading producer, recycler, and supplier of future-facing commodities like cobalt.”

Philippines: A Cobalt Mining Hotspot

The Philippines is a big name in global cobalt mining, ranking fourth in the world¹¹. In 2017, it produced 4,000 metric tons of cobalt, making up 3.3% of global production¹¹. It also has the fourth-largest cobalt reserves, with 260,000 metric tons¹¹.

Key Cobalt Projects and Exploration Activities

The Philippines is home to major cobalt projects and exploration efforts. The Adlay-Cagdianao-Tandawa Project and the Agata DSO open-cut project stand out¹¹. These projects, along with others, are making the Philippines a key spot for cobalt mining¹¹.

Recently, cobalt production in the Philippines saw a slight drop in 2017. This was due to environmental concerns leading to mine closures¹¹. Yet, the country’s large cobalt reserves and ongoing exploration hint at a bright future for the industry¹¹.

“The Philippines’ cobalt mining industry is poised for growth, with key projects and exploration activities driving the country’s position as a global cobalt producer.”

The growing need for cobalt, fueled by electric vehicles and renewable energy, puts the Philippines in a strong spot¹². It’s well-placed to meet the world’s increasing demand for cobalt.

Cuba: Nickel and Cobalt Tandem

Cuba is the fifth-largest cobalt producer worldwide, making 3,500 metric tons or 2.5% of the world’s total in 2019¹³. It has the third-largest cobalt reserves, with 500,000 metric tons mainly in the Moa region¹³.

The Moa Region: Cuba’s Cobalt Heartland

The Moa region is in northeast Cuba and is key to its cobalt production. Sherritt International and Cuba’s General Nickel Company work together here. They mine cobalt and nickel¹³¹⁴.

Cobalt is vital for rechargeable batteries, making up 56% of global use in 2021¹⁴. With more electric vehicles and gadgets needed, Cuba’s cobalt is becoming more important¹⁴.

Global cobalt production jumped over seven times from 2008 to 2015¹³. Cuba is set to play a bigger role in the cobalt market as demand grows¹⁴.

Madagascar: The Ambatovy Project

Madagascar is a key player in global cobalt production. In 2019, it produced 3,300 metric tons of cobalt, making up 2.4% of the world’s total¹⁵. The Ambatovy nickel and cobalt project is central to this success. It’s a joint effort by Japanese and Korean companies, the biggest investment in Madagascar¹⁶.

The Ambatovy mine is in central-eastern Madagascar. It’s a huge project, costing over £6 billion ($8 billion). It can produce 60,000 tonnes of nickel, 5,600 tonnes of cobalt, and 210,000 tonnes of fertilizer every year¹⁶. The mine has huge reserves, with 152.1 million tonnes of minerals. This includes 1.42 million tonnes of nickel and over 120,000 tonnes of cobalt¹⁶.

Ambatovy has a big impact on Madagascar’s economy. It made up 35% of the country’s foreign investment from 2006 to 2012¹⁵. In 2022, it paid $44 million in taxes and spent $340 million locally, boosting the economy¹⁵. The mine also employs 10,000 people, with 8,000 being locals, and gives 27% of the country’s tax revenue¹⁵.

However, the project faces challenges. It has affected 1,600 hectares of rainforest, showing the need for balance between growth and protecting nature¹⁵. Ambatovy is working to offset the environmental impact, making it a leader in sustainable mining¹⁵.

The Ambatovy project is vital for Madagascar’s cobalt production and showcases the country’s mineral riches. It’s committed to sustainability and has a big economic impact, setting a standard for responsible mining in the area¹⁵¹⁶¹⁷.

Papua New Guinea’s Ramu Nickel and Cobalt Operation

Papua New Guinea is known for its rich natural resources. The Ramu nickel and cobalt operation is a big part of this. It’s a joint effort between China’s Metallurgical Corporation (MCC) and Canada’s Nickel 28 Capital Corp. This project is important in the global market for cobalt and nickel.

In 2023, the Ramu operation made 33,604 tonnes of nickel and 3,072 tonnes of cobalt. This was more than its design capacity for the seventh year in a row¹⁸. But, the operation faced problems in the second half of the year. Earthquakes caused over seven lost production days¹⁸.

For 2024, the Ramu project plans to make about 30,000 tonnes of nickel and 2,700 tonnes of cobalt in MHP¹⁸. To boost production and reliability, MCC will spend $33-million on upgrades in 2024. This will mean a 30-day plant shutdown in September¹⁸.

Nickel 28 Capital Corp, the Canadian partner, owns an 8.56% stake in the Ramu Nickel-Cobalt Operation¹⁸. The company expects to produce 30,000 tonnes of contained nickel in MHP in 2024. They plan for cash costs between $2.50-$3.50 per pound of nickel. Nickel prices are expected to stay at or above $8.00 per pound for the year¹⁹.

The success of the Ramu project shows the value of the partnership between MCC and Nickel 28. They aim to improve production and overcome challenges¹⁸. With its large reserves of nickel and cobalt, the Ramu project is set to meet global demand for these minerals²⁰.

“The Ramu operation has been a reliable and consistent contributor to Papua New Guinea’s mineral production, and we are committed to ensuring its long-term sustainability and growth.”

– A spokesperson from the Metallurgical Corporation of China

Canada: Seeking Domestic Cobalt Supply

The demand for cobalt is rising fast, thanks to electric vehicles²¹. Canada is becoming a key player in the cobalt market. It has big cobalt reserves, making it a great place for investment²².

Major Cobalt Mines and Projects

Canada’s cobalt comes from big mines like Glencore’s Voisey’s Bay, Raglan, Thompson, and Fraser²¹. These mines help Canada rely less on foreign cobalt. This move is key to having a steady supply of this important mineral²³.

The Voisey’s Bay mine in Newfoundland is a big part of Canada’s cobalt production. It also gets nickel²¹. The Raglan mine in Quebec, the Thompson mine in Manitoba, and the Fraser mine in Ontario are also vital. They help grow Canada’s cobalt reserves and production²¹.

By 2030, the world will need more cobalt, with electric vehicles using 40% of it²¹. Canada is focusing on its cobalt to support the clean energy shift²².

“Canada’s Critical Minerals Strategy, started in December 2022, has $3.8 billion in federal funding. It aims to speed up regulations and ensure mining is done sustainably.”²²

Canada is stepping up its game in cobalt production with strategic investments and policies²³. This makes Canada a key player in the global cobalt market.

biggest cobalt producers in the world

The Democratic Republic of Congo (DRC) leads the world in cobalt production, producing 73% of the world’s cobalt in 2022, about 145,000 tonnes²⁴. This country is crucial for the electric vehicle (EV) industry, which uses about 40% of the world’s cobalt²⁴²⁵.

Russia is the second-biggest producer, making 6,100 tonnes, or 4.4% of the world’s cobalt²⁴. Australia comes next with 5,100 tonnes, followed by the Philippines, Cuba, Madagascar, and Papua New Guinea²⁴.

Indonesia is growing fast, increasing its cobalt production to nearly 9,500 tonnes in 2022, up from 2,700 tonnes the year before²⁴. This growth has made Indonesia a key player in the global cobalt market, with plans to expand even more by 2030²⁴.

The demand for cobalt is expected to double by 2030, reaching 388,000 tonnes²⁴²⁵. This increase is mainly because of the EV industry. This will change the cobalt market, bringing new challenges and opportunities for producers and consumers²⁴²⁵.

“Cobalt is expected to stay important in battery production, despite efforts to use less because of human rights issues in the DRC.”²⁴

The cobalt market is complex and changing fast. The DRC’s lead, Indonesia’s growth, and the industry’s expansion will shape the future of cobalt²⁴²⁵²⁶.

Conclusion

Cobalt is a key metal as we move towards more electric and renewable energy²⁷. Most cobalt comes from the Democratic Republic of Congo (DRC), which has a lot of cobalt reserves²⁷. By 2035, cobalt use is expected to jump from 100,000 tons to 660,000 tons, mainly for electric vehicle batteries²⁷.

The DRC, Russia, Australia, Philippines, Cuba, Madagascar, and Papua New Guinea are big cobalt producers²⁸. Over 70 percent of global cobalt comes from the DRC, with a big part coming from small-scale mining²⁸. Knowing who makes the world’s cobalt is key as demand keeps going up.

This article talked about the challenges in getting cobalt, like human rights issues in the DRC and unclear rules for small-scale mining²⁸. Working together and setting clear standards is important for ethical cobalt production and trade²⁸. As we use more cobalt, getting it in a sustainable and ethical way is crucial for our energy future²⁹.

Source Links

1. Profiling the world’s eight largest cobalt-producing countries – https://www.nsenergybusiness.com/analysis/top-cobalt-producing-countries/
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4. In Congo, Peace Means a Halt to ‘Brutal, Illegal Mining’ – https://www.usip.org/publications/2024/03/congo-peace-means-halt-brutal-illegal-mining
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10. Australia cashes in on cobalt – https://www.mining-technology.com/features/australia-cashes-in-on-cobalt/
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15. Ambatovy mine – https://en.wikipedia.org/wiki/Ambatovy_mine
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19. Nickel 28 Releases Ramu Q1 2024 Operating Performance – https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2736-tsx-venture/nkl/160911-nickel-28-releases-ramu-q1-2024-operating-performance.html
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