Interest in cobalt has increased in recent years due to its use in lithium batteries used to power electric cars.
World cobalt production increased to a record 230,000 metric tons (MT) in 2023, according to the US Geological Survey (USGS), with the help of increased production from the Democratic Republic of Congo (DRC) and Indonesia.
The World’s Largest Cobalt Mines
- Tenke Fungurume
- Total Production 2023: 28,500 MT (estimated production values)
- Located in Lualaba province in DRC, Tenke Fungurume is 80 percent owned by China’s CMOC group and 20 percent by DRC’s state mining company Gécamines.
- Kamoto
- Total Production 2023: 27,600 MT
- The Kamoto copper and cobalt mine, located in the DRC’s Katanga province, is managed by the Kamoto Copper Company, which is jointly owned by Glencore (75 percent) and Gécamines (25 percent).
- Kisanfu
- Total Production 2023: 27,000 MT (estimated production values)
- Also in Lualaba province, the new and massive Kisanfu mine is 95 percent owned by Kisanfu Mining, a subsidiary of CMOC (75 percent) and the Chinese battery giant CATL (25 percent).
- Metalkol RTR
- Total Production 2023: 14,700 MT (estimated production values)
- Metalkol RTR’s cobalt and copper hydrometallurgical facility, located in the province of Alto-Katanga in the DRC, is managed by the Eurasian Resources Group (ERG) Africa.
- Underpants
- Total Production 2023: 11,200 MT
- The Mutanda copper and cobalt mine in Lualaba province is managed by Mutanda Mining, a 100 percent subsidiary of Glencore, which holds a 95 percent interest in the mine.
