The 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...
READ MOREChina’s CMOC Group, the world’s largest cobalt miner, plans to sustain high production levels in 2025 following a record-breaking year in 2024. The company, which operates major mining projects in the Democratic Republic of Congo, has set a target to produce between 100,000 and 120,000 tons of cobalt this year. This comes after it achieved...
READ MOREThe global cobalt market in 2025 is expected to remain shaped by oversupply and evolving battery technologies. Prices, subdued since 2023 by excess supply, are projected to stay stable with minimal volatility. However, shifts in trade dynamics, technological advancements, and geopolitical factors continue to influence the market. Global cobalt demand is forecasted to grow substantially...
READ MORECobalt remains a critical mineral, integral to industries including defense, aerospace, energy storage, consumer electronics, and electric vehicles (EVs). As demand for these applications grows, the global cobalt market faces a complex mix of opportunities and challenges heading toward 2030. Global Production Trends Cobalt is primarily mined as a by-product of copper and nickel. Global...
READ MORECobalt prices have halved over the past two years, largely driven by a surge in supply from China’s CMOC Group. The company’s aggressive production growth has significantly contributed to the global oversupply of cobalt, pushing prices down from over $28,000 per tonne in January 2024 to under $24,000 by December on the London Metal Exchange....
READ MORE
Nornickel, a leading Russian mining company and a top producer of palladium and nickel, has released its market projections for 2025, highlighting distinct supply and demand dynamics for copper, nickel, platinum, and palladium. Each metal’s outlook reflects a mix of global economic factors and industry-specific developments. CopperThe global copper market, currently in surplus by 200,000...
READ MOREThe global copper market is projected to see a surplus of 200,000 tonnes in 2024 before achieving balance in 2025, according to Nornickel’s latest market analysis. The company attributes this trend to growing demand spurred by renewable energy, electric vehicles, and rising global electricity consumption. While concerns about long-term copper supply shortages persist, recent investments...
READ MORE
