Cobalt Mining Market Analysis by Reserves, Production, Assets, Demand Drivers and Forecast to 2035 (2026 Update)
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GlobalData's "Global Cobalt Mining to 2035 (2026 Review)" provides a comprehensive coverage on the global cobalt industry. It provides historical and forecast data on cobalt production by country, production by company, reserves by country and world cobalt prices. The report also includes a demand drivers section providing information on factors that are affecting the global cobalt industry. It further profiles major cobalt producers, information on the major active, planned and exploration projects by region.
Cobalt production has seen significant growth in recent years, driven by increasing demand and substantial investments from both government and private sectors, however, global cobalt production grew by just 1.8% in 2025 to reach 307.3 thousand tonnes (kt), helped by strong output from Indonesia. The DRC remains the dominant player in the global cobalt market, accounting for 72.8% of global output in 2025, followed by Indonesia with 14.8%. Growth was led by Indonesia, which more than offset the decline from DRC driven by the country’s export quota restrictions.
Looking ahead, global cobalt output is anticipated to contract modestly in 2026, declining by 1.4% to 302.9kt, due to the deeper contraction from DRC by 3.9% amid continued export quota administration outweighing gains elsewhere. The declines are expected to partially offset by the gains from Morocco’s Bou-Azzer facility, the nation's sole active cobalt mine. Its production is rebounding in 2026 after a sharp decline in 2025, allowing the operator to capitalise on rising cobalt prices. Over the forecast period (2026-35), global cobalt production is expected to grow at a compound annual growth rate (CAGR) of 3.0% to reach 393.8kt by 2035.
Scope
The report contains an overview of the global cobalt mining industry including key demand driving factors affecting the global cobalt mining industry. It provides detailed information on reserves, reserves by country, production, production by country, production by company, major operating mines, competitive landscape, major exploration and development projects.
Reasons to Buy
To gain an understanding of the global cobalt mining industry, relevant driving factors
To understand historical and forecast trend on global cobalt production
To identify key players in the global cobalt mining industry
To identify major active, exploration and development projects by region
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