The need for particular metals, like Cobalt, becomes increasingly critical as the role of the metal sector in our daily lives grows. Cobalt is well recognized for playing a crucial part in the fabrication of li-ion batteries, among other things. Additionally, its significance is expected to grow over time due to present and upcoming technological breakthroughs.
According to the International Energy Agency, creating new supply chains for vital minerals like Cobalt will eventually define energy security in the twenty-first century. Amid the energy transition, these commodities demand is increasing. However, only a few nations control the majority of the production.
Countries with the largest cobalt reserves in the world
| Rank | Country | Cobalt Reserves |
| 1 | Democratic Republic of Congo | 3.6 million tonnes |
| 2 | Australia | 1.4 million tonnes |
| 3 | Cuba | 500,000 tonnes |
| 4 | Philippines | 260,000 tonnes |
| 5 | Russia | 250,000 tonnes |
| 6 | Canada | 220,000 tonnes |
Source: NS Energy
1. Democratic Republic of Congo – 3.6 million tonnes
The largest Cobalt reserves in the world are found in the DMC. It holds 50% of the world’s cobalt reserves, with about 3.6 million tonnes.
The Mutanda, Kamoto, Etoile, and Ruashi mines are a few notable mining locations in the Katanga Province. Meanwhile, top foreign producers like Glencore and local miner Gécamines have built sites in the DRC.
According to a World Economic Forum report, artisanal small-scale mining operations are responsible for up to 30% of the cobalt mined in the Congo.
2. Australia – 1.4 million tonnes
The second largest Cobalt reserves in the world are found in Australia. It holds 20% of the world’s identified cobalt reserves, with 1.4 million tonnes.
The largest operation for the metal in the nation is Glencore’s Murrin Murrin mine in Western Australia. Notably, there are a lot of new projects now in the works.
3. Cuba – 500,000 tonnes
Cuba ranks third among nations with the largest Cobalt deposits in the world, with an estimated reserve of 500,000 tonnes. With a national production of about 3,600 tonnes in 2020, the nation is the fifth-largest cobalt producer in the world.
Notably, the majority of Cuba’s cobalt reserves are located in the Moa region in the island’s east.
Open pit mining is used to extract the metal from deposits in Moa through a partnership between the Canadian mining company Sherritt International and the General Nickel Company of Cuba.
4. Philippines – 260,000 tonnes
The fourth largest Cobalt reserves in the world are found in the Philippines. It holds 4% of the world’s identified cobalt reserves, with 260,000 tonnes.
The Adlay-Cagdianao-Tandawa Project, owned by CTP Construction and Mining, and the Agata DSO open-cut project, located in Tubay, Agusan del Norte, are both significant cobalt projects in the nation.
5. Russia – 250,000 tonnes
Russia ranks fifth among nations with the largest Cobalt deposits in the world, with an estimated reserve of 250,000 tonnes.
In retrospect, the country was the fourth-largest Cobalt producer in the world, trailing DRC, Russia, and Australia. In addition, the country generated 6,300 tonnes of the metal in 2020, making it the second-largest producer in the world.
In the upcoming years, Russia has announced an intention to boost domestic cobalt production, possibly reaching 10,000 tonnes yearly by 2022.
On the other hand, the vast Karakul deposit is found in the Altai Republic, a well-known cobalt-producing region in southern Siberia.
6. Canada – 220,000 tonnes
The sixth largest Cobalt reserves in the world are found in Canada. It holds 3% of the world’s identified cobalt reserves, with 220,000 tonnes.
The Voisey’s Bay, Raglan, Thompson, and Fraser mines are among the major operations run by the global giants Glencore and Vale.
Notably, Canada’s cobalt reserves may be a lucrative resource for producers of renewable energy products. It could also decrease reliance on DRC supply chains as North America strives to hasten the shift to a low-carbon energy system.
That said, the US and Canadian governments have committed to improving the joint Critical Minerals Action Plan.
Countries with the largest Cobalt production in the world
The Democratic Republic of the Congo produced an estimated 100,000 tonnes of cobalt mining output in 2021, making it the top-producing nation globally. It was followed by Russia (6,100 tonnes), Australia (5,100 tonnes), the Philippines (4,600 tonnes), and so on.
| Rank | Country | Cobalt Production |
| 1 | Democratic Republic of Congo | 100,000 tonnes |
| 2 | Russia | 6,100 tonnes |
| 3 | Australia | 5,100 tonnes |
| 4 | Philippines | 4,600 tonnes |
| 5 | Cuba | 3,500 tonnes |
| 6 | Madagascar | 3,300 tonnes |
| 7 | Papua New Guinea | 3,100 tonnes |
| 8 | Canada | 3,000 tonnes |
Source: NS Energy
Top cobalt-producing companies
The primary use of cobalt is as a component of lithium-ion batteries. However, it is also used in high-speed steels, surface coatings, superalloys, cutting tools, and several other materials. These applications are the rationale behind the proliferation of businesses and investors in this field.
| Rank | Company | Market Cap | Production |
| 1 | Glencore PLC | $52.45B | 27,400 tonnes |
| 2 | China Molybdenum | $34.06B | 9,314 tonnes |
| 3 | Fleurette Group | – | 7,595 tonnes |
| 4 | Vale | $65.82B | 5,811 tonnes |
| 5 | Gecamines | – | 4,167 tonnes tonnes |
Source: Skilling Mining Review
The Anglo-Swiss mining company Glencore PLC ranks first among the top cobalt-producing companies worldwide. It has a market cap of $52.45B, with an estimated production of 27,400 tonnes. It was followed by the China Molybdenum, which produced 7,595 tonnes, with a market cap of $34.06B.
Meanwhile, Netherland’s Fleurette Group, Brazil’s Vale, and DRC’s Gecamines made up the top 5, correspondingly.
Due to the growing popularity of smartphones, electric vehicles, and other devices that depend on rechargeable batteries, the demand for cobalt is predicted to climb further.
