Cobalt Mining Market Analysis by Reserves, Production, Assets, Demand Drivers and Forecast to 2030
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Cobalt Mining Market Report Overview
Cobalt production was estimated to be 217.4Kt in 2023 with the Democratic Republic of the Congo (DRC), Indonesia, Russia, Madagascar, and Cuba being the key contributors. Cobalt production is expected to grow marginally at a CAGR of more than 5% over the forecast period.
Cobalt Mining Market Outlook, 2023 – 2030 (Kt)
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The Cobalt mining market research report provides detailed historical and forecast period data on the global Cobalt industry. It provides a complete view of the Cobalt reserves globally, with a breakdown of key Cobalt mining countries and the prevailing Cobalt prices in those countries. It also provides company profiles of a few of the major market participants. Furthermore, the report sheds light on the major active mines, as well as upcoming development and exploration projects by region.
Forecast Period | 2023-2030 |
Historical Period | 2011-2022 |
Key Countries | · DRC
· Indonesia · Russia · Madagascar · Cuba |
Active Mines | · Sicomines Copper-Cobalt Mine
· Murrin Murrin Mine · Metalkol RTR Project · Tenke Fungurume Mine · KOV Mine |
Development Projects | · Mutoshi Project
· Sorowako Limonite Project · Musonoi Project · Weda Bay Expansion Project (Sonic Bay) · CBL Ni-Co Project |
Exploration Projects | · Clarion Clipperton Zone Project
· Weda Bay Nickel Project · Weld Range Complex Project · Mingomba Project · Mambare Nickel Project |
Leading Companies | · CMOC Group
· Glencore · Jinchuan Group International Resources · Vale · BHP |
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Cobalt Mining Market Segmentation by Country
DRC, Indonesia, Russia, Madagascar, and Cuba are major countries in the global Cobalt production market. DRC ranked first in terms of total production in 2023, followed by Indonesia. Production in the DRC is primarily due to the restart of Kinsanfu (later named KFM) in the second quarter of 2023.
Cobalt Mining Market Analysis by Countries, 2023 (%)
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Cobalt Mining Market - Active Mines
A few of the major active Cobalt mines are Sicomines Copper-Cobalt Mine, Murrin Murrin Mine, Metalkol RTR Project, Tenke Fungurume Mine, and KOV Mine among others. Sicomines Copper-Cobalt Mine in the was the world’s largest open-pit Cobalt mine having in 2023. China Railway Group Ltd is one of the major shareholders of this mine.
Cobalt Mining Market Analysis by Active Mine, 2022 (%)
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Cobalt Mining Market - Development Projects
A few of the major Cobalt mining projects that are in the development phase include the Mutoshi Project, Sorowako Limonite Project, Musonoi Project, Weda Bay Expansion Project (Sonic Bay), and CBL Ni-Co Project among others. Mutoshi Project has the highest saleable production capacity among all the projects. Shalina Resources Ltd is the sole owner of the Mutoshi project, which is currently undergoing construction. It has an annual saleable cobalt production capacity of more than 15kt and is set to commence operations in 2024.
Cobalt Mining Market Analysis by Development Projects
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Cobalt Mining Market - Exploration Projects
A few of the major Cobalt exploration projects are the Clarion Clipperton Zone Project, Weda Bay Nickel Project, Weld Range Complex Project, Mingomba Project, and Mambare Nickel Project among others. The Clarion Clipperton Zone Project is based out of the US, and it is a deep-sea mining project.
Cobalt Mining Market Analysis by Exploration Projects
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Cobalt Mining Market - Competitive Landscape
CMOC Group, Glencore, Jinchuan Group International Resources, Vale, and BHP are the top Cobalt-producing companies in the world. In 2023, CMOC Group led the Cobalt mining market in terms of total production.
Leading Cobalt Mining Companies, 2023 (%)
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Segments Covered in the Report
Cobalt Mining Market Countries Outlook (Value, 2011-2030)
- DRC
- Indonesia
- Russia
- Madagascar
- Cuba
Scope
- Reserves and Production Data: Access detailed information on reserves, reserves by country, production figures, production by country, and production by company.
- Key Players: Learn about the major players in the industry like Glencore plc, CMOC Group Ltd, Jinchuan Group International Resources Co Ltd, Vale SA, and BHP.
- Country Insights: Discover leading cobalt-producing countries such as the Democratic Republic of the Congo (DRC), Indonesia, Russia, Madagascar, and Cuba.
- Project landscape: Gain insights into cobalt explorational and developmental projects, as well as active mines.
Reasons to Buy
- Understand market trends: Gain a comprehensive understanding of cobalt mining by exploring country-wise market dynamics, identifying key assets, and assessing the competitive landscape.
- Strategic market analysis: Navigate the industry with ease by exploring historical and forecast trends to anticipate market shifts and make forward-looking decisions.
- Forge valuable partnerships: Identify key players in the cobalt mining market and access exclusive information on key stakeholders such as cobalt producers, government entities, suppliers, and more.
- Uncover major projects: Dive into a detailed overview of major active, explorational, and developmental mining projects across various regions.
Table of Contents
Table
Figures
Frequently asked questions
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Which country had the largest Cobalt reserves in 2023?
DRC had the largest Cobalt reserves in 2023.
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Which are the major active Cobalt mines in the market?
A few of the major active Cobalt mines are Sicomines Copper-Cobalt Mine, Murrin Murrin Mine, Metalkol RTR Project, Tenke Fungurume Mine, and KOV Mine among others.
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Which are the major development projects in the Cobalt mining market?
A few of the major Cobalt mining projects that are in the development phase include the Mutoshi Project, Sorowako Limonite Project, Musonoi Project, Weda Bay Expansion Project (Sonic Bay), and CBL Ni-Co Project among others.
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Which are the leading companies in the Cobalt mining market?
CMOC Group, Glencore, Jinchuan Group International Resources, Vale, and BHP are the top Cobalt-producing companies in the world.
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