René Muschter
Research Expert covering Industry & Mobility
Cobalt mining industry worldwide - statistics & facts
Cobalt as a free element is a hard, lustrous gray metal. Almost all of cobalt’s land-based deposits are found in combination with nickel or copper, and to a smaller extent, with platinum group metals. Thus, cobalt production often occurs as a by-product of the copper and nickel mining industries. There are several methods that can be used to separate cobalt from nickel or copper. For example, froth flotation is commonly used, in which a substance is used to bind to different ore components in order to enrich cobalt ores. In 2024, the total global cobalt reserves amounted to 11 million metric tons, and the global cobalt production amounted to 290,000 metric tons. As of 2023, about 25 percent of the global cobalt production was attributed to just one cobalt mine: the Kisanfu mine in the Democratic Republic of Congo.
