In 2022, the Democratic Republic of the Congo (DRC) emerged as the leading producer of cobalt, contributing 115,371 tonnes, which accounted for over two-thirds of the world’s production.
The Cobalt Institute’s 2022 report on the global market reveals that the DRC’s significance in the supply of this vital green metal will persist until 2030.
Projections indicate that by 2030, the DRC’s cobalt mines will still represent 57% of the global supply, experiencing a slight decrease from the 73% share recorded in 2022, despite the increasing cobalt production in Indonesia.
According to a comprehensive analysis conducted by Benchmark Mineral Intelligence, Indonesia is poised to witness a substantial surge in cobalt production, projected to grow by 10 times its current output. In contrast, the DRC’s cobalt production is expected to increase by approximately two-thirds.
Consequently, the DRC’s share in the global cobalt supply growth is estimated to be 44% during the period from 2022 to 2030, while Indonesia is projected to account for 37% of the growth.
It is noteworthy that global cobalt production experienced a notable 21% year-on-year increase in 2022, reaching a total of 198,000 tonnes. Analysts predict that the threshold of 200,000 tonnes will be surpassed in 2023, and a conservative estimate anticipates a substantial rise to 318,000 tonnes by 2030.
