Cobalt Holdings has confirmed plans to list on the London Stock Exchange in June through a $230 million initial public offering, marking a rare new entry for investors seeking direct exposure to the price of cobalt. Trading is expected to begin on or around June 10, with both institutional and UK retail investors able to...
READ MOREIndonesia plans to more than double its cobalt production capacity to 114,630 metric tonnes per year by 2027, up from 55,630 tonnes in 2024, according to Septian Hario Seto, executive secretary of the country’s National Economic Council. Speaking at the Cobalt Congress 2025 in Singapore, Seto said the country has no intention of controlling global...
READ MOREEVelution Energy has signed a letter of intent with Japan-based Mitsui to supply nearly all of the cobalt metal and cobalt sulfate production from its planned processing facility in Yuma County, Arizona. Construction on the project is expected to begin by the end of 2025, with full operations targeted for 2027. Once operational, the plant...
READ MOREXerion Advanced Battery has begun pilot-scale production at its Dayton, Ohio facility, deploying its proprietary DirectPlate Molten Salt Electrolysis (MSE) technology to refine cobalt. The new process allows crude cobalt hydroxide to be converted directly into high-purity cobalt metal in a single, continuous step, streamlining a procedure that typically involves multiple complex stages. The pilot...
READ MORECobalt prices have surged nearly 37% in the past month, climbing from $23,985 per metric ton to $32,795 per metric ton, following the Democratic Republic of Congo’s (DRC) decision to halt metal exports at the end of February 2025. The DRC, which supplies more than 70% of the world’s cobalt, introduced the four-month export ban...
READ MORESwiss mining group Glencore is facing a $4.7 billion revised tax bill from the Democratic Republic of Congo’s tax authority, according to a report published by Africa Intelligence on April 16. The assessment targets two of the company’s subsidiaries operating in the country: Kamoto Copper Company (KCC) and Mutanda Mining. The Congolese Directorate General of...
READ MORESeveral South Korean battery companies are postponing or abandoning joint projects with Chinese partners, as geopolitical risks and shifting market dynamics reshape industry strategies. LG Energy Solution has delayed its planned battery recycling venture with Huayou Cobalt, China’s top cobalt producer. The project, intended to include pre-processing and post-processing facilities in Nanjing and Quzhou, was...
READ MORECobalt Blue has entered into a binding agreement with Iwatani Australia to jointly advance development of the Kwinana cobalt refinery in Western Australia. The agreement sets the framework for progressing the project toward a final investment decision (FID) by December 31, 2025. Key conditions to be satisfied before a final decision include verification that cobalt...
READ MOREEvelution Energy has announced plans to establish North America’s first cobalt processing facility in Tacna, Yuma County, Arizona. The $200 million project will produce battery-grade cobalt sulfate, a critical material for electric vehicle (EV) batteries, and is expected to significantly reduce U.S. reliance on foreign supply chains. Once operational, the facility will process 33,000 metric...
READ MORECMOC Group, the world’s largest cobalt miner, reported a 20.7% increase in cobalt production during the first quarter of 2025, reaching 30,414 metric tons. Copper output also rose by 15.7%, totaling approximately 171,000 tons. These gains were achieved despite the Democratic Republic of Congo (DRC) imposing a four-month ban on cobalt exports in February to...
READ MOREThe United States is nearing an agreement with the Democratic Republic of Congo (DRC) that would increase American companies’ control over critical mineral assets in exchange for enhanced support for the embattled Kinshasa government. The deal, which aims to foster private sector investment in Congo’s mining sector, was confirmed by Massad Boulos, senior Africa adviser...
READ MOREElectra Battery Materials has received a non-binding Letter of Intent from the Government of Canada for up to $20 million in potential funding to help complete North America’s first battery-grade cobalt refinery in Temiskaming Shores, Ontario. The facility is expected to support production for up to one million electric vehicles annually. Designed to have the...
READ MOREElectra Battery Materials, poised to become the only cobalt sulfate refinery in North America, is navigating financial hurdles as it works to complete its Temiskaming Shores facility in Northern Ontario. Construction at the site stalled in 2023 due to funding shortages, but the company remains optimistic about securing the remaining capital needed to resume operations....
READ MOREThe world’s capacity to produce cobalt and lithium—two essential elements for batteries used in mobile devices, tools, and electric vehicles—is expected to double over the next five years, according to the U.S. Geological Survey’s (USGS) inaugural World Minerals Outlook. Meanwhile, production capacity for gallium, palladium, platinum, and helium is expected to remain stable. “The USGS...
READ MOREChinese mining group MMG has suspended operations at its cobalt processing plant in the Democratic Republic of Congo (DRC) due to weakening demand and lower prices. Cobalt, a key battery metal used in electric vehicles (EVs), is one of the DRC’s major exports. The decision comes just 15 months after MMG launched the plant at...
READ MOREChina’s electrolytic cobalt production reached 5,370 tonnes in February, reflecting a 5.85% month-on-month increase and a substantial 120.99% surge compared to the previous year. The rise was driven by major cobalt manufacturers resuming normal operations after the Chinese New Year holiday to fulfill long-term orders. However, raw material price fluctuations, influenced by export control policies...
READ MOREChinese state-controlled miner MMG has placed its Kinsevere cobalt project in the Democratic Republic of Congo on care and maintenance due to unfavorable cobalt market conditions, the company stated in its annual report. MMG had previously approved a mine life extension in 2022, incorporating cobalt into its existing copper production. While the expansion was completed...
READ MOREThe Democratic Republic of Congo, the world’s leading producer of cobalt, has temporarily suspended exports of the metal due to a production glut. The export ban, announced on Monday by the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS), will remain in effect for at least four months. “This measure is...
READ MORENickel 28 Capital has successfully restored full production at the Ramu Nickel-Cobalt Mine’s Basamuk HPAL plant following a mechanical failure that temporarily reduced output. The company previously announced on December 18, 2024, that a blower malfunction in the acid plant required short-term operational adjustments. Repairs and replacement have now been completed, allowing production to resume...
READ MORECobalt is a critical material for electric vehicle (EV) lithium-ion batteries and energy storage systems, playing a key role in the global clean energy transition. With increasing market demand, understanding which countries hold economically viable cobalt reserves is essential for assessing future supply. According to the US Geological Survey (USGS), global cobalt reserves currently stand...
READ MOREThe cobalt market has entered an unprecedented downturn, with prices on the London Metal Exchange (LME) plummeting from a peak of $82,000 per metric ton in April 2022 to $21,550, the lowest since the contract’s inception in 2010. The current oversupply, largely driven by China’s CMOC Group, contrasts with previous downturns, such as the 2018-2019...
READ MORESherritt International has announced expectations for increased nickel and cobalt production at its Moa Joint Venture in 2025, following a strong performance in 2024. In 2024, the Moa facility produced 30,331 tons of finished nickel and 3,206 tons of finished cobalt. For 2025, Sherritt projects nickel production to rise to between 31,000 and 33,000 tons,...
READ MORECobalt, lithium, and copper are essential for lithium-ion batteries and the electric vehicle (EV) supply chain. As China maintains strategic control over these minerals, the United States and its allies are working to diversify sources to secure supply chains. The US and Japan are increasing cooperation, exploring trilateral partnerships with Latin American mineral producers such...
READ MORECobalt prices have fallen to their lowest levels in nearly a decade, with the battery material trading at $11.02 per pound as of January 23. The price drop reflects record-high production levels, which continue to exert downward pressure on the market. The world’s largest cobalt producer, CMOC Group, achieved a record output of 114,165 tons...
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