Who are the biggest buyers of cobalt?
In 2022, Top importers of Cobalt ores and concentrates are China ($140,228. K , 26,272,300 Kg), Morocco ($26,506. K , 2,331,500 Kg), Finland ($16,698. K , 1,349,890 Kg), Other Asia, nes ($15,660. K , 2,609 Kg), Italy ($2,274. K , 26,050 Kg). This tells us how many years of production they could meet with their current reserves. One point to make clear: the world will not run out of cobalt. The world has about 46 years’ worth of known reserves. Those are deposits that are economically feasible with current technologies and markets.Africa holds a significant portion of the world’s cobalt reserves, with the Democratic Republic of Congo (DRC) leading with 48% of global reserves, amounting to 4 million tonnes. The DRC, Madagascar and Morocco represent 49% of global cobalt reserves.Pure cobalt does not occur on Earth, although cobalt-bearing minerals are common globally. Cobalt is often mined as a byproduct of nickel and copper. Cobalt is largely mined in Kinshasa (the Congo), but also in several other countries including China, Russia, and Canada.International context. The Democratic Republic of Congo is the world’s largest mined cobalt producer, contributing 73.According to Tesla’s 2022 Impact Report, one of its primary sources of cobalt is, as defined by the United Nations, the poorest country on Earth, the Democratic Republic of the Congo.
Is cobalt price expected to increase?
Cobalt price growth to continue into 2026 Looking ahead, Benchmark expects Indonesia to overtake the DRC as the key source of new supply by the late 2020s, as projects such as Kalimantan Ferro Nickel (KFN) ramp up and few new developments emerge in Congo. Cobalt is found in the minerals cobaltite, skutterudite and erythrite. Important ore deposits are found in DR Congo, Canada, Australia, Zambia and Brazil. Most cobalt is formed as a by-product of nickel refining.Is cobalt found in India? Cobalt can be found in nickeliferous limonite/laterite in Sukinda, Jajpur district, Odisha, as well as copper slags produced by HCL.Pure cobalt does not occur on Earth, although cobalt-bearing minerals are common globally. Cobalt is often mined as a byproduct of nickel and copper. Cobalt is largely mined in Kinshasa (the Congo), but also in several other countries including China, Russia, and Canada.The Democratic Republic of Congo is the world’s largest mined cobalt producer, contributing 73. Because of the rapid expansion of its nickel industry, Indonesia has recently emerged as the second-largest cobalt producer, accounting for 7.Cobalt is often found in association with other metals, such as copper and nickel. It is extracted as a by-product of mining and processing these metals. India has significant cobalt resources, with the majority of them located in the state of Odisha. However, there is currently no production of cobalt in India.
Is cobalt worth money?
As of Q2 of 2025, cobalt metal is priced at approximately $33,000 USD per metric ton, while cobalt sulfate and other battery-grade chemicals trade at different levels depending on purity and contract terms. Cobalt futures are available to trade through your bank, broker, or electronically nearly 24 hours a day.Cobalt is expected to trade at 49253. USD/T by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 52800.
Is India rich in cobalt?
Although India has significant estimated cobalt deposits — around 44. Odisha, Jharkhand, and Nagaland — it currently meets its cobalt demand entirely through imports. In 2021, Top exporters of Cobalt ores and concentrates are Congo, Dem. Rep. K , 2,780,970 Kg), Italy ($1,305. K , 444,809 Kg), Germany ($1,133. K , 41,790 Kg), Nigeria ($361. K , 16,050 Kg), European Union ($347. K , 89,943 Kg). Congo, Dem.The biggest cobalt mining companies for 2025 include Glencore plc (Switzerland), China Molybdenum Co. Ltd. CMOC), Huayou Cobalt Co. Ltd. Eurasian Resources Group (ERG), and Jinchuan Group. Together, these companies control more than 60% of global cobalt output, primarily through mining operations in the DRC.Over 75% of the world’s cobalt is produced in the Democratic Republic of the Congo (DRC) – the world’s leading source of mined cobalt – in the two southern provinces of Lualaba and Haut-Katanga, known as the “Copperbelt”. The majority of cobalt mined globally – and in the DRC – comes from industrial mines.