Cobalt is an essential metal used in lithium-ion batteries that power electric vehicles (EVs), laptops, phones and other technologies enabling the global transition to clean energy. As the world shifts to e-mobility, demand for ethically and sustainably sourced cobalt is set to surge. This article provides detailed profiles of the 10 biggest cobalt mining companies globally, explaining their operations and role in cobalt production.
Why Cobalt Matters
Before diving into the major industry players, it helps to understand exactly why cobalt has become such a critical metal in recent years.
Cobalt is a hard, silvery-gray ferromagnetic metal with a high melting point and resistance to corrosion. These properties make cobalt well-suited for use in "superalloys" that maintain strength through high heat and stress, enabling aircraft and land-based turbines to operate at top efficiency.
But the largest driver of cobalt growth has been the meteoric rise of rechargeable lithium-ion batteries. Cobalt is an important component of cathode materials used in li-ion batteries that power electric vehicles and consumer devices.
As countries push towards e-mobility and greater adoption of renewable energy, EVs and energy storage solutions are expected to drive a massive 500% increase in cobalt demand over the next 30 years according to S&P Global.
This huge growth comes with ethical concerns as well though. The Democratic Republic of Congo (DRC) produces over 70% of global cobalt supply, where artisanal small-scale mines rife with child labor account for up to a fifth of the country‘s output.
So the path ahead for cobalt will require both vastly increased supply and a strong focus on transparency and responsible production from all players along the value chain. Which brings us to the world‘s leading cobalt miners producing this strategically vital metal.
Top 10 Global Cobalt Mining Companies
Here we profile the 10 largest cobalt producers worldwide, providing details into their assets, production, partnerships and approach to ethical sourcing.
10. Panoramic Resources (Australia) – $90.39 million revenue
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9. Sherritt International (Canada) – $110 million
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8. Jervois Global (Australia) – $162 million
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7. Umicore (Belgium) – $4 billion
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6. Huayou Cobalt (China) – $4.792 billion
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5. China Molybdenum Co. Ltd (China) – $24.1 billion
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4. Eurasian Resources Group (Luxembourg) – $33 billion
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3. Gécamines (DRC) – $33.69 billion
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2. Vale S.A. (Brazil) – $54.5 billion
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1. Glencore PLC (Switzerland) – $203.8 billion
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Cobalt Market Outlook and Challenges Ahead
Current projections predict… more details
Overall, these leading cobalt miners will play a pivotal role supplying a rapidly transforming global economy reliant on batteries and renewable energy….
