Cobalt Mining Market Analysis including Reserves, Production, Operating, Developing and Exploration Assets, Demand Drivers, Key Players and Forecasts, 2021-2030
The cobalt mine production is estimated to be 175.6 thousand tonnes (kt) in 2022 and is expected to achieve a CAGR of more than 2% during 2023–2030. The demand for cobalt is expected to rise significantly over the coming years, due to its use in lithium-ion batteries and the growing demand for electric vehicles (EVs).
DRC, which holds the world’s largest cobalt deposits, is expected to remain the world’s largest producer over the forecast period. The growth will be chiefly supported by output from the Pumpi and Deziwa projects alongside the restart of Glencore’s Mutanda mine. Meanwhile, significant growth is anticipated from Russia, Australia, and Canada. Moreover, the expected commencement of the Savannah North, Mount Freda, and Sconi projects in Australia will be crucial for growth.
Cobalt Mining Market Outlook, 2022 (Kt)
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Cobalt Mining Market Segmentation by Regions
The key regions in the cobalt mining market are MEA, Oceania, the Americas, and the Rest of the World.
MEA: The top three active mines in the MEA region are Tenke Fungurume Mine, KOV Mine, and Mashamba East Mine. Musonoi Project, Kalukundi Project, and Mutoshi Project are the key development projects in the MEA region. Some of the exploration projects in the region include Gogota Project, Luisha South Project, and Zanzui Project.
Oceania: The top three active mines in Oceania are Ramu Nickel Mine, Murrin Murrin Mine, and Goro Nickel Project. Wingellina Project, Thackaringa Cobalt Project, and Savannah North Project are the key development projects in the region. Some of the exploration projects in Oceania include Mambare Nickel Project, Big Four Gold Project, and Bulong East Project.
Americas: The top three active mines in the Americas are Moa Joint Venture Project, Voisey’s Bay Mine, and Raglan Mines. Boa Esperanza Project, Araguaia Nickel Project, and Minago Mine are the key development projects in the Americas. Some of the exploration projects in the Americas are Iron Creek Cobalt Project, Nickel King Project, and West Bear Project.
Cobalt Mining Market Segmentation by Countries
The key countries associated with cobalt mining production are the Democratic Republic of the Congo (DRC), Australia, Indonesia, Cuba, and the Philippines, among others. DRC held the largest share in 2022, followed by Australia and Indonesia.
Cobalt Mining Market Analysis, by Countries, 2022 (%)
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Cobalt Mining Market – Competitive Landscape
Some of the leading producers in the cobalt mining market are Glencore Plc, Vale SA, IGO Ltd, Jervois Global Ltd, China Nonferrous Mining Corporation Ltd, Artemis Resources Ltd, Eurasian Resources Group Sarl, Klondike Silver Corp., Ardea Resources Ltd, and Mawson Gold Ltd. Glencore Plc dominates the market.
Cobalt Mining Market Analysis, by Producers, 2022 (%)
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Cobalt Mining Market Report Overview
| Market Volume (2022) | 175.6 kt |
| CAGR (2023–2030) | >2% |
| Forecast Period | 2023-2030 |
| Key Regions | MEA, Oceania, the Americas, and the Rest of the World |
| Key Countries | Democratic Republic of the Congo (DRC), Australia, Indonesia, Cuba, and the Philippines |
| Leading Producers | Glencore Plc, Vale SA, IGO Ltd, Jervois Global Ltd, China Nonferrous Mining Corporation Ltd, Artemis Resources Ltd, Eurasian Resources Group Sarl, Klondike Silver Corp., Ardea Resources Ltd, and Mawson Gold Ltd |
Segments Covered in the Report
Cobalt Mining Market Regions Outlook ( Value, Kt, 2021-2030)
- MEA
- Oceania
- the Americas
- The Rest of the World
Cobalt Mining Market Countries Outlook ( Value, Kt, 2021-2030)
- Democratic Republic of the Congo (DRC)
- Australia
- Indonesia
- Cuba
- The Philippines
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 the 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 trends in global cobalt production
- To identify key players in the global cobalt mining industry
- To identify major active, exploration and development projects by region
Key Players
Table of Contents
List of Tables
List of Figures
Frequently Asked Questions
The cobalt mine production volume is estimated to be 175.6 thousand tonnes (kt) in 2022.
Cobalt production is expected to achieve a CAGR of more than 2% during 2023–2030.
The key regions in the cobalt mining market are MEA, Oceania, the Americas, and the Rest of the World.
The key countries associated with the cobalt mining market are the Democratic Republic of the Congo (DRC), Australia, Indonesia, Cuba, and the Philippines, among others.
Some of the leading producers in the cobalt mining market are Glencore Plc, Vale SA, IGO Ltd, Jervois Global Ltd, China Nonferrous Mining Corporation Ltd, Artemis Resources Ltd, Eurasian Resources Group Sarl, Klondike Silver Corp., Ardea Resources Ltd, and Mawson Gold Ltd.
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