How Long Will Cobalt Reserves Last?Īs the global community transitions towards the adoption of fully electric vehicles (EVs), there is an irrefutable necessity to address the predicted surge in demand for cobalt. The projected increase is mostly attributed to heightened efforts in cobalt recycling, alongside prospective growth in mining activities. However, their consistent efforts in cobalt mining contribute a considerable portion to the world's cobalt supply and play an indispensable role in maintaining the balance of the metal's availability.Īccording to The Faraday Institution (an independent research institute in the UK), Australia, currently a comparatively minor cobalt producer, is set to experience substantial growth in cobalt production, anticipated to contribute 14% of global demand by 2030.Įurope is projected to increase its cobalt production output to a noteworthy 15% of global demand by 2030, a figure particularly striking Europe's low current cobalt production levels. Russia, Australia, the Philippines, and Cuba represent the second tier of the largest cobalt producing countries, albeit at a markedly lower production scale compared to Congo. In 2022, DRC produced 68% share of worldwide cobalt production and also has the largest cobalt reserves in the world, amounting to 4 million metric tons. According to data extending from 2010 onwards, the DRC's contribution to global cobalt output has been substantial. The Democratic Republic of the Congo (DRC) overshadows other cobalt-producing nations. If you want to skim through and find the main global cobalt producers, go to Top 5 Largest Cobalt Producing Countries. In this in-depth article, we'll research the top 20 largest cobalt producing countries to see where is cobalt found in the world and which nations own the biggest chunk of the international cobalt market.

Cobalt ore density