Commodity
Cobalt is a silver-gray, hard, and brittle metallic element (symbol Co) with atomic number 27. It is primarily found in the earth's crust as an oxide mineral, often in association with nickel, copper, and iron. The Democratic Republic of Congo (DRC) is the world's largest producer, accounting for more than 60% of global production. Cobalt's primary use is in the production of various alloys due to its ability to incr...
Cobalt is a silver-gray, hard, and brittle metallic element (symbol Co) with atomic number 27. It is primarily found in the earth's crust as an oxide mineral, often in association with nickel, copper, and iron. The Democratic Republic of Congo (DRC) is the world's largest producer, accounting for more than 60% of global production.
Cobalt's primary use is in the production of various alloys due to its ability to increase strength and hardness. These alloys are used in industries such as aerospace, chemical processing, and industrial engineering for products like gas turbine engines, stainless steel, and magnets.
Cobalt is also a crucial component in lithium-ion rechargeable batteries, which are widely used in portable electronics, like smartphones and laptops, and in electric vehicles (EVs). This demand makes cobalt a vital part of the growing renewable energy sector.
Cobalt is typically extracted from its ore through a series of processes, including roasting, smelting, and electrolysis. Initially, the ore is heated in a furnace with carbon and limestone, creating a cobalt(II) oxide. Further heating in the presence of carbon reduces this compound to cobalt metal, which is often then purified through electrolysis. Unfortunately, artisanal and small-scale mining practices in the DRC, which supply a significant portion of the global cobalt market, have been criticized for human rights abuses and environmental harm.
Production
Mined Cobalt
Cobalt is a mined mineral commodity extracted primarily from ores found in conjunction with nickel and copper deposits, used in various high-tech applications.
Cobalt is a mined mineral commodity extracted primarily from ores found in conjunction with nickel and copper deposits, used in various high-tech applications.
Production
Refined Cobalt
Purified cobalt is highly refined metal or compound derived from cobalt ore through multiple chemical and electrolytic processes to meet quality standards for specific uses.
Purified cobalt is highly refined metal or compound derived from cobalt ore through multiple chemical and electrolytic processes to meet quality standards for specific uses.
Trade
Cobalt Ore
Cobalt is a key mineral commodity derived from raw ore and processed through refinement to produce high-purity metal essential for rechargeable batteries, aerospace, and specialty alloys.
Cobalt is a key mineral commodity derived from raw ore and processed through refinement to produce high-purity metal essential for rechargeable batteries, aerospace, and specialty alloys.
Trade
Cobalt Oxide
Cobalt oxides, which include compounds such as cobalt(II) oxide and cobalt(III) hydroxide, are used as intermediate materials in the production of cobalt metal and salts, as well as in various industrial applications.
Cobalt oxides, which include compounds such as cobalt(II) oxide and cobalt(III) hydroxide, are used as intermediate materials in the production of cobalt metal and salts, as well as in various industrial applications.
Trade
Cobalt
Cobalt-based specialty materials used for high-performance applications in industries like aerospace, medicine, and renewable energy.
Cobalt-based specialty materials used for high-performance applications in industries like aerospace, medicine, and renewable energy.
Market intelligence
Vale completed construction and commissioning of its Voisey's Bay Mine Expansion Project, opening two underground mines and establishing a 2,600 t/yr cobalt byproduct capacity, with ramp-up to full capacity by the second half of 2026.
BHP Group announced that its Nickel West operations in Western Australia would be placed on care‑and‑maintenance status by October 2024, a move that reduces cobalt by‑product output.
BHP Group announced that the Kambalda concentrator, which processed third‑party feed, would be placed on care‑and‑maintenance by June 2024, further tightening cobalt supply.
Prony Resources New Caledonia halted operations at its cobalt mine and processing plant due to unrest, stopping cobalt production in the territory.
China State Reserve Bureau announced a plan to stockpile 15,000 t of cobalt metal for 2023, expanding strategic reserves and potentially affecting global supply.
U.S. DoD awarded $6.4 million to Fortune Minerals to support development of a cobalt mine, concentrator, and refinery in Canada, boosting North American cobalt supply chain.
U.S. announced increased tariffs on Chinese electric vehicles and lithium‑ion batteries, raising costs for cobalt‑containing products and potentially reducing demand for cobalt imports.
A ground fall in the mine ramp at Lundin Mining's Eagle operation in Michigan limited access and reduced mining rates, causing a 57% decline in U.S. cobalt mine production in 2024.
Mining activity at a cobalt‑copper‑gold mine in Idaho was suspended in 2024 due to low cobalt prices, halting local cobalt production.
China expanded its cobalt refining capacity throughout 2024, boosting domestic production of refined cobalt.
United States cobalt reserves were revised based on recent company and government reports, updating domestic resource estimates.
The U.S. increased tariffs on cobalt ores and concentrates from China and on cobalt‑containing electric vehicles and batteries, affecting trade flows.
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