Digital
Cobalt, nickel, and manganese used in lithium-ion battery cathodes for EVs, devices, and grid storage.
Why it matters · Battery cost and EV price increases when Democratic Republic of Congo cobalt supply is disrupted.
7
Inputs
34
Companies
41
Facilities
10
Source countries
How it's made
Ore Extraction & Beneficiation
Cobalt-bearing ore (primarily from copper-cobalt deposits in DRC or nickel laterite ore in Indonesia) is mined via open-pit or underground methods, then crushed and concentrated. DRC ore averages 0.2–0.5% cobalt grade; laterite ore is much lower grade.
Hydrometallurgical Processing / HPAL
Ore concentrate undergoes hydrometallurgical refining: DRC ore via solvent extraction-electrowinning (SX-EW) to produce cobalt hydroxide; Indonesian laterite ore via High-Pressure Acid Leaching (HPAL at 255°C, 725 psi with sulfuric acid) to produce Mixed Hydroxide Precipitate (MHP).
Cobalt Sulfate / Refined Cobalt Production
MHP or cobalt hydroxide is shipped largely to China for further refining into battery-grade cobalt sulfate (CoSO₄) or cobalt metal. China accounts for ~79% of global refined cobalt output. Lithium and nickel undergo parallel sulfate production steps.
Precursor Cathode Active Material (pCAM) Synthesis
Cobalt sulfate, nickel sulfate, and manganese sulfate are co-precipitated in continuous stirring tank reactors (CSTR) to form nickel-manganese-cobalt hydroxide (NMC precursor) or nickel-cobalt-aluminum hydroxide (NCA precursor). China controls >85% of global pCAM production.
Cathode Active Material (CAM) Calcination
pCAM is dry-blended with a lithium compound (lithium carbonate or lithium hydroxide) and calcined at up to 900°C under oxygen atmosphere to yield finished NMC or NCA cathode powder. Surface coatings and dopants are applied for stability.
Electrode Coating & Cell Assembly
CAM powder is mixed with carbon black binder and solvent, coated onto aluminum foil, dried and calendared to form cathode electrodes. Graphite anode electrodes (>93% from China) are prepared similarly. Electrodes, separator, and electrolyte are assembled into cells.
Battery Pack Manufacturing & Testing
Cells are formed (initial charge/discharge cycles), tested, and assembled into modules and packs with battery management systems (BMS). ~85% of global cell manufacturing capacity is in China. Packs are qualified for EV, grid storage, or consumer electronics use.
What it's made of
7 raw inputs feed cobalt and battery minerals. Inputs flagged with ● are critical, without them, production halts.
mineral
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Where it comes from
Weighted share of upstream inputs sourced from each country.
| Country | Weighted share | Inputs supplied to cobalt and battery minerals |
|---|---|---|
| CDDemocratic Republic of Congono map | 74% | Cobalt Ore (DRC) |
| CNChina | 57% | Cobalt Sulfate (Battery Grade) · Lithium Carbonate · Lithium Hydroxide (Battery Grade) +2 |
| CLChile | 23% | Lithium Carbonate · Lithium Hydroxide (Battery Grade) |
| AUAustralia | 18% | Cobalt Ore (DRC) · Cobalt Sulfate (Battery Grade) · Lithium Carbonate +1 |
| IDIndonesia | 9% | Cobalt Ore (DRC) · Nickel Sulfate (Battery Grade) |
| JPJapan | 9% | Nickel Sulfate (Battery Grade) · Synthetic Graphite Anode Material |
| FIFinland | 6% | Cobalt Sulfate (Battery Grade) |
| RURussia | 6% | Cobalt Ore (DRC) · Cobalt Sulfate (Battery Grade) · Nickel Sulfate (Battery Grade) |
| ARArgentina | 4% | Lithium Carbonate · Lithium Hydroxide (Battery Grade) |
| BEBelgium | 4% | Cobalt Sulfate (Battery Grade) · Nickel Sulfate (Battery Grade) |
Who makes it
34 companies in this supply chain, sorted by market share.
Chinese mining giant that is the world's largest cobalt miner as of 2024. Operates Tenke Fungurume (TFM) and Kisanfu (KFM) mines in DRC. Produced 114,000 tonnes cobalt in 2024, representing ~41% global market share.
Supplies these inputs
Cobalt Ore (DRC)
Replaceability
Substitutability 30% · 36 mo to replace
Business segments
Huayou Cobalt Co., Ltd. (Quzhou, Zhejiang Province; SZSE: 603799; ~¥60B+ revenue) is the world's largest producer of battery-grade cobalt sulfate — estimated 25-30% of global CoSO4 supply. Huayou controls the full cobalt value chain: mining and concentrating cobalt ore in the DRC through its Mikas and Huacobalt DRC subsidiaries (Katanga Province, near Kolwezi), shipping cobalt hydroxide intermediates to Quzhou, refining to cobalt sulfate at the Quzhou facility (capacity ~70,000 tonnes cobalt content annually across all cobalt products), and selling to NMC cathode precursor manufacturers in China, Japan, and South Korea. Huayou is CATL's primary cobalt sulfate supplier. In 2021-2023, Huayou aggressively expanded upstream DRC cobalt hydroxide capacity and downstream cathode precursor (PCAM) production, integrating vertically from mine to precursor. Huayou's Quzhou facility is the single largest cobalt chemical refinery in the world. The company is listed on the Shenzhen Stock Exchange and is partially state-aligned via CIC (China Investment Corporation) linkages.
Supplies these inputs
Cobalt Ore (DRC) · Cobalt Sulfate (Battery Grade) · Nickel Sulfate (Battery Grade)
Replaceability
Substitutability 10% · 18 mo to replace
Business segments
BTR New Material Group Co., Ltd. (Shenzhen; SZSE: 835185; ~¥13B revenue 2023) is the world's largest producer of lithium-ion battery anode materials by volume, overtaking Shanshan Corporation around 2020-2021. BTR produces both synthetic graphite anode material (dominant product, ~70% of its anode volume) and natural graphite anode material (~30%). Its synthetic graphite anode is made by graphitizing petroleum coke or coal tar pitch precursors at ~3000°C in Acheson electric resistance furnaces, producing high-purity (99.9%+) spheroidized graphite with superior electrochemical performance versus natural graphite. BTR's customers include CATL, BYD, LG Energy Solution, Panasonic, Samsung SDI, and SK On. BTR operates multiple production bases across China (Shenzhen Bao'an, Guizhou, Shandong, Ningde) and is expanding into localized overseas production (BTR Korea JV, BTR Germany study). Estimated ~25% global synthetic graphite anode market share in 2023.
Supplies these inputs
Synthetic Graphite Anode Material
Replaceability
Substitutability 30% · 36 mo to replace
Business segments
CMOC Group Limited (China Molybdenum Co., Ltd.; Luoyang, Henan, China; SEHK: 3993, SSE: 603993; ~$12B revenue) is China's most aggressive international copper and cobalt miner, having transformed from a domestic molybdenum producer into a global critical minerals company through acquisitions. CMOC acquired Freeport-McMoRan's Tenke Fungurume mine in the DRC (copper and cobalt) in 2016 for $2.65B and BHP's Niobium and Phosphates businesses in Brazil. In the DRC, CMOC's Tenke Fungurume mine (copper and cobalt; DRC Copper Belt; 80% CMOC, 20% Gécamines state) is among the world's largest cobalt-copper mines — producing ~235,000 tonnes Cu and ~18,000 tonnes Co in 2023, making CMOC the world's largest cobalt producer. CMOC also holds a 24.5% stake in Sandfire Resources' Motheo mine (Botswana). Through its DRC operations CMOC became a critical link in the EV supply chain: cobalt from Tenke Fungurume flows into cathode materials for lithium-ion batteries in Chinese EVs. CMOC's growth represents China's deliberate strategy to secure strategic mineral assets globally.
Supplies these inputs
Cobalt Ore (DRC) · Cobalt Sulfate (Battery Grade)
Replaceability
Substitutability 25% · 24 mo to replace
Business segments
SQM (Sociedad Quimica y Minera de Chile; NYSE/Santiago: SQM; ~$10.5B market cap 2025; HQ Santiago, Chile) produces battery-grade lithium hydroxide monohydrate alongside lithium carbonate from the Salar de Atacama. SQM's Antofagasta chemical plant converts brine-derived lithium chloride concentrate to both Li2CO3 and LiOH·H2O for export. SQM is the world's largest single producer of lithium chemicals by volume. SQM's LiOH is produced via a causticization route (Li2CO3 + Ca(OH)2 → 2LiOH + CaCO3) rather than the direct spodumene route used by hard-rock converters. Battery-grade LiOH requires >56.5% LiOH content, low impurities (Na <0.005%, Fe <0.001%). In May 2024, SQM signed a public-private partnership with Codelco giving the Chilean state 50%+1 from 2025 to 2060. SQM produced 201,000 MT LCE total in 2024; LiOH accounted for a growing share as NMC-811 adoption accelerated. Source: SQM Annual Report 2023.
Supplies these inputs
Lithium Carbonate · Lithium Hydroxide (Battery Grade)
Replaceability
Substitutability 18% · 36 mo to replace
Business segments
Chile's dominant lithium producer, operating the Salar de Atacama brine operation. One of the two largest lithium producers globally. Controls significant lithium carbonate and lithium hydroxide capacity.
Supplies these inputs
Lithium Carbonate
Replaceability
Substitutability 45% · 18 mo to replace
Business segments
U.S.-based specialty chemicals company and the world's largest lithium producer by capacity. Operates Greenbushes (Australia, JV with Tianqi), Silver Peak (Nevada), and Chile's Atacama brine.
Supplies these inputs
Lithium Carbonate
Replaceability
Substitutability 45% · 18 mo to replace
Business segments
Albemarle Corporation (NYSE: ALB; HQ Charlotte, NC; ~$6B revenue 2023) is one of the world's largest lithium producers and the leading US-headquartered lithium hydroxide supplier. Albemarle produces battery-grade lithium hydroxide monohydrate (LiOH·H2O) at three primary locations: (1) La Negra complex, Antofagasta, Chile — converting Atacama brine-derived lithium chloride to LiOH; (2) Kemerton Lithium Hydroxide Plant, Western Australia — a JV with Mineral Resources Ltd (MRL) that converts spodumene from Greenbushes Mine to LiOH; Train 1 (50,000 t/year) commissioned 2022, Train 2 (50,000 t/year) commissioned 2023. (3) Kings Mountain, North Carolina — historically the world's largest lithium mine (operated 1953-1988), being restarted with US DOE/DOD support for domestic LiOH production. Albemarle is the preferred LiOH supplier for Tesla (NCA cathodes), BMW i-series, and multiple US and Asian battery makers requiring high-nickel chemistry. The 2023-2024 LiOH price collapse compressed Albemarle margins substantially; ALB stock fell ~75% from its 2022 peak.
Supplies these inputs
Lithium Carbonate · Lithium Hydroxide (Battery Grade)
Replaceability
Substitutability 15% · 36 mo to replace
Business segments
World's largest producer of palladium (~40% of global supply) and a major nickel and platinum producer; Russia-Ukraine war (2022) created palladium supply fears that spiked prices; major automotive catalytic converter raw material chokepoint
Supplies these inputs
Nickel Sulfate (Battery Grade)
Business segments
Shanshan Corporation (Ningbo; SSE: 600884) is one of China's oldest and largest battery anode material producers, founded in 1992 as the first commercial synthetic graphite anode manufacturer in China. Shanshan was formerly the world's #1 anode producer before BTR overtook it by volume. Shanshan's anode division (Ningbo Shanshan Co.) operates under the Shanshan Group holding structure. Synthetic graphite anode is produced at Shanshan's Changsha (Hunan), Baotou (Inner Mongolia), and Ningbo facilities. Shanshan is also a significant cathode material producer (NMC). Estimated ~18% global synthetic graphite anode market share in 2023. Major customers: CATL, Panasonic, AESC.
Supplies these inputs
Synthetic Graphite Anode Material
Replaceability
Substitutability 30% · 36 mo to replace
Business segments
Ganfeng Lithium Co., Ltd. (SHEX: 002460, HKEX: 1772; HQ Xinyu, Jiangxi, China; ~$5B revenue) is China's largest and the world's third-largest lithium producer, with dominant capacity in lithium hydroxide conversion. Ganfeng operates multiple LiOH conversion facilities in Xinyu (Jiangxi), Xinjiang, and Chongqing — collectively processing imported spodumene from Mount Marion (WA; 50% JV with Mineral Resources) and brine concentrate into battery-grade LiOH·H2O. Ganfeng supplies LiOH to BMW, Tesla, LG Energy Solution, CATL, and BYD for NMC-811 and NCA cathode manufacturing. Ganfeng's vertical integration — from Australian spodumene mining through Chinese conversion to battery material supply — exemplifies China's control of the LiOH processing chain. Ganfeng also produces lithium metal (for solid-state battery anodes) and other specialty lithium chemicals. Source: Ganfeng Lithium Annual Report 2023.
Supplies these inputs
Lithium Carbonate · Lithium Hydroxide (Battery Grade)
Replaceability
Substitutability 20% · 24 mo to replace
Business segments
Swiss-British commodity giant, second-largest cobalt miner globally. Operates Mutanda and Kamoto Copper Company mines in DRC, plus Murrin Murrin (Australia). Produced 38,200 tonnes cobalt in 2024.
Supplies these inputs
Cobalt Ore (DRC)
Replaceability
Substitutability 30% · 24 mo to replace
Business segments
Putailai New Energy Technology Co., Ltd. (Nanchang, Jiangxi; SZSE: 688567; formerly known through its Jiangxi Zichen subsidiary) is the third-largest synthetic graphite anode producer in China by volume. Putailai operates large-scale Acheson furnace graphitization capacity at its Jiangxi and Sichuan production bases. Key differentiation: Putailai also produces anode manufacturing equipment (graphitization furnaces), giving it vertical integration advantages. Estimated ~13% global synthetic graphite anode market share in 2023. Customers include CATL, BYD, SVOLT. The company's Jiangxi Zichen brand is widely recognized in Chinese battery supply chains.
Supplies these inputs
Synthetic Graphite Anode Material
Replaceability
Substitutability 35% · 30 mo to replace
Business segments
GEM Co., Ltd. (Shenzhen, Guangdong; SZSE: 002340; ~¥30B revenue) is China's second-largest cobalt sulfate producer and the world's leading 'urban mining' cobalt recovery company — extracting cobalt from recycled lithium-ion batteries, spent catalysts, and cobalt-bearing electronic waste. GEM's cobalt sulfate production comes from two sources: (1) primary production from DRC cobalt hydroxide feedstock at its Jingmen, Hubei facilities; and (2) secondary production from battery recycling at multiple Chinese facilities. GEM's 'urban mining' model means its cobalt sulfate supply is partially insulated from DRC mining disruptions — it can recover cobalt from recycled EV batteries. GEM is a major supplier to Samsung SDI and SK On (South Korean battery makers) with whom it has direct offtake contracts. GEM also produces nickel sulfate, manganese sulfate, and cathode precursor materials (PCAM), making it a one-stop cobalt/nickel chemicals supplier for Korean and Japanese battery manufacturers.
Supplies these inputs
Cobalt Sulfate (Battery Grade)
Replaceability
Substitutability 20% · 24 mo to replace
Business segments
World's largest lithium-ion battery manufacturer, controlling ~37% of global EV battery market. Integrates upstream into minerals including Bolivia lithium deal and African cobalt sourcing.
Supplies these inputs
Cobalt Sulfate (Battery Grade)
Replaceability
Substitutability 35% · 24 mo to replace
Business segments
Major diversified mining and commodities trading company; produces sulfuric acid as byproduct at its copper, zinc, and lead smelters globally (Australia, Canada, Kazakhstan, South Africa, Philippines, Peru, etc.). One of the world's largest merchants of sulfuric acid from smelting operations. Also one of the world's largest sulfur traders — trades recovered sulfur from refineries and intermediates it to fertilizer manufacturers. Glencore's dual position as a smelter byproduct H2SO4 producer AND sulfur trader gives it market intelligence across both supply sources.
Supplies these inputs
Cobalt Ore (DRC)
Replaceability
Substitutability 25% · 48 mo to replace
Business segments
PJSC Mining and Metallurgical Company Norilsk Nickel (Moscow; MOEX: GMKN; ~$12B revenue) is the world's largest nickel and palladium producer and produces cobalt sulfate as a byproduct of nickel refining at its Kola Peninsula operations (Monchegorsk, Murmansk Oblast) and Norilsk complex (Krasnoyarsk Krai). Nornickel's Kola MMC refinery produces cobalt sulfate from cobalt-bearing matte generated at Norilsk nickel smelters. Pre-2022, Nornickel supplied cobalt sulfate to European and Asian battery manufacturers. Post-February 2022 Russian invasion of Ukraine, Nornickel's cobalt sulfate has been largely excluded from Western supply chains due to sanctions and reputational risk — but continues supplying Chinese battery manufacturers (CATL, BYD, CALB) who are not bound by Western sanctions. Nornickel's ~3-4% global cobalt sulfate share is now effectively China-destined.
Supplies these inputs
Cobalt Sulfate (Battery Grade) · Nickel Sulfate (Battery Grade)
Replaceability
Substitutability 35% · 36 mo to replace
Business segments
Tianqi Lithium Corporation (SHEX: 002466, HKEX: 9696; HQ Chengdu, Sichuan, China; ~$4B revenue) is one of China's two largest lithium producers and the builder of the first major lithium hydroxide refinery outside China. Tianqi owns 51% of Talison Lithium (Greenbushes Mine, WA; the world's largest hard-rock lithium mine) alongside Albemarle (49%). Tianqi's Kwinana Lithium Hydroxide Plant (Western Australia; 48,000 t/year design capacity) was the first large-scale LiOH conversion facility built outside China, completed ~2021 — but faced severe operational challenges including quality issues, staffing shortfalls, and equipment problems that kept utilization rates low for multiple years. Tianqi also operates LiOH conversion facilities in Sichuan and Jiangsu, China. Tianqi additionally holds 22.16% of SQM. The combination of Greenbushes mine control and Kwinana LiOH processing was intended to create a non-Chinese LiOH supply chain, but persistent Kwinana underperformance undermined this goal. Source: Tianqi Lithium Annual Report 2023; Reuters.
Supplies these inputs
Lithium Carbonate · Lithium Hydroxide (Battery Grade)
Replaceability
Substitutability 20% · 24 mo to replace
Business segments
Where it's made
41 facilities producing inputs that feed cobalt and battery minerals.
Albemarle Corporation · Antofagasta Region · mining
Albemarle's Chilean brine operation adjacent to SQM's Atacama concession; Albemarle operates under a separate Corfo concession for Atacama brine extraction with a lower concession volume than SQM. Albemarle processes concentrate at a nearby La Negra chemical plant complex outside Antofagasta. La Negra I and La Negra II units produce lithium carbonate and lithium hydroxide for export to Asia and North America. Albemarle's Atacama operations are subject to the same Chilean National Lithium Strategy framework requiring eventual Codelco involvement. Source: Albemarle Annual Report 2023.
Arcadium Lithium plc (Rio Tinto acquisition 2024) · Gaston County, North Carolina · processing
Livent Corporation (now Arcadium Lithium / Rio Tinto) Bessemer City processing facility; Gaston County, NC — one of only two lithium hydroxide production plants on US soil (alongside Albemarle's Silver Peak NV, which produces carbonate). Bessemer City converts imported lithium concentrate (primarily from Livent's Fenix brine operation in Salta, Argentina) to battery-grade lithium hydroxide for EV cathode manufacturers. Capacity: approximately 5,000-8,000 t/year LiOH. US-based processing qualifies for IRA domestic content requirements. Now owned by Rio Tinto following the $6.7B Arcadium acquisition (March 2025). Historically supplied BMW (NMC cathodes), Panasonic (NCA cathodes), and other European/Japanese battery makers. Source: Livent/Arcadium corporate disclosures; Rio Tinto acquisition materials.
BTR New Material Group · Guangdong · manufacturing
BTR's original and largest anode production base in Bao'an District, Shenzhen, Guangdong. Produces synthetic and natural graphite anode material; houses R&D headquarters. Acheson furnace graphitization at ~3000°C. Capacity estimated at 50,000+ tonnes/year equivalent across Shenzhen operations. Source: https://www.btrchina.com/about
CMOC Group (China Molybdenum) · Inner Mongolia · refinery
CMOC's Kobolda cobalt refinery in Jining, Inner Mongolia — processes DRC cobalt hydroxide shipped from CMOC's Tenke Fungurume and Kisanfu operations to produce cobalt sulfate and cobalt metal. CMOC is primarily a DRC miner that sells most hydroxide output to Huayou and GEM rather than refining domestically; Kobolda handles a portion of captive refining. Source: https://www.cmoc.com/
GEM Co., Ltd. · Hubei · refinery
GEM Co.'s primary cobalt sulfate and cathode precursor (PCAM) production complex in Jingmen, Hubei Province. Processes DRC cobalt hydroxide and secondary cobalt from urban mining (recycled batteries, spent catalysts). GEM's Jingmen facility is one of the key supply sites for Samsung SDI and SK On via direct offtake contracts. Also produces nickel sulfate and ternary precursor materials. Source: https://en.gem.com.cn/
Ganfeng Lithium · Xinyu, Jiangxi Province · processing
Ganfeng Lithium's primary lithium hydroxide monohydrate conversion complex in Xinyu, Jiangxi Province — the company's headquarters city. Ganfeng operates multiple conversion lines at Xinyu for both LiOH·H2O and Li2CO3, processing imported spodumene from Mount Marion (WA; 50% JV with MinRes) and other feedstock. Additional LiOH capacity in Xinjiang (processing domestic Qinghai brine concentrates) and Chongqing. Total Ganfeng LiOH capacity estimated at 100,000-120,000 t/year across all Chinese facilities. Serves BMW, Tesla, LG Energy Solution, CATL, and BYD with battery-grade LiOH for NMC-811 and NCA cathode production. The Xinyu complex is Ganfeng's largest single manufacturing site. Source: Ganfeng Lithium Annual Report 2023; CRU Group.
Glencore plc (Cobalt Division) · Western Australia · refinery
Glencore's Murrin Murrin laterite nickel-cobalt operation near Leonora, Western Australia — one of the few non-Chinese, non-DRC cobalt sulfate production sources. Uses high-pressure acid leach (HPAL) technology on nickel laterite ore containing ~0.09% cobalt. Produces cobalt sulfate crystals for battery-grade use. Capacity: ~2,000-3,500 tonnes cobalt/year. Murrin Murrin cobalt sulfate is one of the few battery-grade sources available to US and European manufacturers without Chinese or Russian origin. Source: https://www.glencore.com/what-we-do/metals-and-minerals/nickel/murrin-murrin
Albemarle · Western Australia · mine
World's largest and highest-grade hard-rock lithium mine. Joint venture: Albemarle 49%, Tianqi Lithium 26%, IGO 25%. Produced 1.38M mt spodumene concentrate in FY2024.
Group14 Technologies · Washington · manufacturing
Group14 Technologies' BAM-1 (Battery Active Material) production facility in Moses Lake, Grant County, Washington. Produces silicon-carbon composite anode material (SCC55) — the primary commercial-scale non-China synthetic graphite substitute in North America. Moses Lake selected for access to cheap hydroelectric power (Columbia River basin; ~$0.03/kWh industrial rate) critical for energy-intensive silicon-carbon synthesis. Capacity ~2,000 tonnes/year; scaling to BAM-2 targeting 120,000 tonnes. DOE DERA grant US$100M (2022). Source: https://www.group14.technology/resources/
Harita Nickel · Obi Island, North Maluku, Indonesia · refinery
First HPAL plant in Indonesia to achieve commercial battery-grade nickel sulfate. Capacity 240,000 tpa nickel sulfate. JV with Lygend Resources (China). Commercial exports commenced 2023.
Zhejiang Huayou Cobalt Co., Ltd. · Zhejiang · refinery
Huayou Cobalt's primary cobalt sulfate refinery in Quzhou, Zhejiang Province — the world's largest single cobalt chemical production facility. Capacity estimated at ~70,000 tonnes cobalt content annually across all cobalt chemical products, including cobalt sulfate, cobalt hydroxide, and cobalt oxalate. The Quzhou complex receives DRC-origin cobalt hydroxide by sea (via Shanghai port) for wet chemical refining to battery-grade CoSO4·7H2O. Also produces nickel sulfate and cathode precursor (PCAM) at adjacent facilities. Source: https://www.huayou.com/en/
Jien Nickel Industry Co., Ltd. · Gansu · refinery
Jinchuan nickel-cobalt-copper complex in Jinchang, Gansu Province — China's largest nickel sulfide mining and refining operation. Cobalt is recovered as a byproduct during nickel refining via solvent extraction. The Jinchuan deposit contains one of the world's largest cobalt sulfide reserves. Jien's cobalt sulfate output (~3-5% global share) is the most geographically independent major cobalt source: derived from a domestic Chinese nickel mine rather than DRC imports. Source: https://www.jnmc.com/
Glencore plc · Lualaba Province · mine
Kamoto Copper Company (KCC) is a copper-cobalt underground mine and processing complex in Kolwezi (Commune de Dilala), Lualaba Province. Owned by Glencore (75%) and Gécamines (25%). KCC was historically operated as Katanga Mining Ltd (a TSX/LSE listed company) before Glencore consolidation. Produces cobalt hydroxide (the standard intermediate product shipped from DRC) as a byproduct of copper cathode production. KCC is one of the deepest mining operations in the Copperbelt and operates an on-site solvent extraction-electrowinning (SX-EW) plant. Source: Glencore DRC operations page; Coppermark KCC profile; NS Energy Business.
Albemarle Corporation · Southwest Western Australia · processing
Kemerton Lithium Hydroxide Plant; Albemarle 60% / Mineral Resources Ltd 40% JV; Kemerton Strategic Industrial Area, Western Australia (~175km south of Perth). Train 1 (50,000 t/year LiOH·H2O) commissioned late 2022; Train 2 (50,000 t/year) commissioned 2023; total nameplate capacity 100,000 t/year — one of the world's largest LiOH plants. Spodumene feedstock sourced from Greenbushes Mine (~130km north). Converts via roast-leach process: spodumene calcined at ~1050°C (alpha→beta phase transformation), leached with H2SO4, purified, and crystallized to LiOH·H2O. Battery-grade product >56.5% LiOH. Kemerton is a critical node in Albemarle's strategy to produce IRA-eligible LiOH (Australian production for US FTA-country qualification). Source: Albemarle Annual Report 2023; Mineral Resources ASX disclosures.
CMOC Group (China Molybdenum) · Lualaba Province · mine
Kisanfu Mine (KFM; also referred to as Kamoto Fungurume Mine in some early reporting) is a copper-cobalt mine in Lualaba Province owned by Kisanfu Mining SAS (75% CMOC, 25% CATL). Acquired by CMOC from Freeport-McMoRan in 2020 for $550M. KFM ramped up aggressively in 2023-2024, contributing substantially to CMOC's cobalt production surge. Expected average annual cobalt capacity of ~50kt in 2025-2026. CATL's 25% stake makes this the only major DRC mine where a battery manufacturer holds a direct equity position in the upstream ore supply. Source: Copperbelt Katanga Mining; CMOC investor communications.
MMC Norilsk Nickel (Nornickel) · Murmansk Oblast · processing
Nornickel's Kola Metallurgical Company (Kola MMC) refinery complex located in Monchegorsk, Murmansk Oblast, approximately 180km south of Murmansk. This facility processes nickel-copper-cobalt sulfide ore from Kola Peninsula mines into Class 1 nickel (nickel metal, nickel sulfate), copper, cobalt, and precious metals. Kola MMC is one of two major Nornickel refining centers (the other being Norilsk/Taimyr in Siberia). Kola's proximity to European markets made it historically the primary supplier to European battery and specialty chemical manufacturers. Post-2022 sanctions pressure has prompted European buyers to seek non-Russian alternatives, but Kola MMC's Class 1 nickel output (~100,000 tonnes/year combined Nornickel refined nickel) cannot be quickly replaced. Source: Nornickel Annual Report 2023; NS Energy profile; coordinates from OpenStreetMap.
Arcadium Lithium plc (Rio Tinto acquisition 2024) · Jujuy Province · mining
Cauchari-Olaroz lithium brine operation in the Puna region of Jujuy Province, Argentina; high-altitude salt lake at ~4,000m elevation. Operated by Minera Exar (49% Ganfeng Lithium, 44.8% Lithium Argentina [formerly Lithium Americas], 6.2% JEMSE — Jujuy provincial government). First production commenced 2023; target capacity 40,000 tonnes/year LCE. Argentina's second operational lithium brine project (after Livent's Fenix/Salta operation). Benefits from Milei government's RIGI investment regime (30-year stability, 25% corporate tax). Source: Lithium Americas disclosures; Reuters 2023.
Eurasian Resources Group (ERG) · Lualaba Province · processing
Metalkol RTR is a unique cobalt-copper hydrometallurgical plant that reprocesses historical tailings (waste dumps) from the colonial-era Kolwezi mine, located 5km northwest of Kolwezi town. Owned and operated by Metalkol SA, a wholly owned subsidiary of Eurasian Resources Group (ERG). Nameplate capacity: ~23,000 tonnes cobalt in hydroxide and ~100,000 tonnes copper cathode annually. Achieved design cobalt capacity in 2021. Metalkol's process uses no conventional mining — all feed material is reclaimed from existing tailings dumps — which gives it a different environmental and social profile than open-pit or underground mining. Compliant with OECD Due Diligence Guidance and RMI RMAP certification. Coordinates from Mindat.org (10°42'42"S 25°23'48"E). Source: ERG Africa Metalkol page; Miningdataonline; International Mining.
Glencore · Lualaba Province, DRC · mine
One of the world's largest cobalt mines. Voluntarily closed 2019-2021 due to low cobalt prices; reopened 2022.
Glencore plc · Lualaba Province · mine
Mutanda Mining S.A.R.L (MUMI) is a copper-cobalt mine approximately 40km east of Kolwezi in Lualaba Province, DRC. Wholly controlled by Glencore (95% since 2017; 5% transferred to DRC State in 2023 per new Mining Code requirements). Mutanda was historically the world's largest cobalt mine by annual output. Glencore voluntarily suspended Mutanda in August 2019 (cobalt price too low; prices had crashed from $95,000/t peak to under $30,000/t) — the suspension itself caused a cobalt supply shock and brief price recovery. Mutanda restarted in Q4 2021. 2024 cobalt output from Mutanda was approximately 8,000 tonnes, reflecting declining ore grades. Coordinates from latitude.to verified GPS data. Source: Glencore Full Year 2024 Production Report; Mutanda Wikipedia; Mining Weekly.
Sumitomo Metal Mining Co., Ltd. · Ehime · processing
SMM's Niihama Nickel Refinery (Ehime Prefecture, Shikoku Island) refines MSS from Philippine HPAL plants into Class 1 nickel and battery-grade nickel sulfate. Niihama is the downstream terminus of SMM's Philippines-Japan integrated nickel sulfate supply chain. The refinery has been in operation since 1905 (originally as a copper refinery for the adjacent Besshi copper mine, operational since 1691). Today Niihama produces nickel sulfate, nickel metal, cobalt sulfate, and precious metal byproducts. As a Japan-based refinery using Philippine laterite and non-Russian feed, Niihama is one of the most strategically desirable nickel sulfate sources for Japanese and Korean battery makers seeking non-Chinese, non-Russian supply. Source: SMM Annual Report 2024; SMM facility page.
CATL · Fujian Province, China · manufacturing
CATL's headquarters and largest battery manufacturing complex. One of the world's largest battery factories by capacity. Produces NMC and LFP cells for EV and energy storage.
MMC Norilsk Nickel (Nornickel) · Krasnoyarsk Krai · processing
Nornickel's main smelting and processing complex in Norilsk, Krasnoyarsk Krai, located on the Taimyr Peninsula in the Russian Arctic at 69°N — one of the world's most remote industrial cities (~175,000 inhabitants, accessible only by air or via Yenisei River when ice-free). The Norilsk complex processes nickel-copper-palladium sulfide ore from the world's largest known deposits of nickel-copper-PGM ore. Norilsk operations are the source of approximately 10% of global Class 1 nickel. The city of Norilsk was built by Gulag labor under Stalin; the copper-nickel smelters have emitted SO2 at levels that killed all vegetation within 24,000 sq km surrounding the city — one of the largest industrial dead zones on Earth. A 2020 fuel tank collapse at a Nornickel subsidiary spilled 21,000 tonnes of diesel into the Ambarnaya River, Russia's largest oil spill since 1994. Nornickel has pledged billions in environmental remediation. Source: Nornickel Annual Report 2023; Greenpeace Russia; Reuters 2020 Norilsk spill.
MMC Norilsk Nickel (Nornickel) · Murmansk Oblast · refinery
Nornickel's Kola Mining and Metallurgical Company (Kola MMC) at Monchegorsk, Murmansk Oblast — produces cobalt sulfate as a byproduct of nickel refining from Norilsk ore. Pre-2022, Kola MMC supplied cobalt sulfate to European battery manufacturers. Post-February 2022 Ukraine war, Kola MMC's cobalt sulfate is largely redirected to Chinese buyers (CATL, BYD) not bound by Western sanctions. Source: https://www.nornickel.com/production/kola-mmc/
Novonix Ltd. · South Carolina · manufacturing
Novonix's commercial-scale synthetic graphite anode facility in Aiken, South Carolina. First commercial synthetic graphite anode plant in North America. Targeting 10,000 tonnes/year capacity. Uses proprietary all-dry synthesis process (vs. traditional Acheson furnace) — significantly lower energy intensity and avoids wet chemistry waste streams. Funded partly by US$103M DOE MESC grant (2022). Samsung SDI is both equity investor and offtake customer. Source: https://www.novonix.com/manufacturing/
POSCO Holdings · South Jeolla Province · processing
South Korea's first and largest lithium hydroxide conversion plant; Yulchon Industrial Complex, Gwangyang, South Jeolla Province. POSCO Pilbara Lithium Solution Co. (PPLS; 82% POSCO, 18% Pilbara Minerals). Nameplate capacity: 43,000 t/year LiOH·H2O. Train 1 commenced ramp-up 2024; Train 2 completing commissioning 2024-2025. Imports spodumene concentrate from Pilbara Minerals' Pilgangoora Mine (WA) and converts via sulfuric acid leach. One of only a handful of large-scale LiOH conversion plants outside China. South Korea's KORUS FTA status qualifies this material for US IRA critical minerals credit — making it commercially premium relative to Chinese-processed LiOH. Targets Korean battery makers (LG Energy Solution, Samsung SDI, SK On) for Hyundai, GM, and Ford EV supply chains. Source: POSCO Holdings newsroom November 2024; Pilbara Minerals ASX releases 2024.
Zhejiang Huayou Cobalt Co., Ltd. · Central Sulawesi · processing
PT Huayou Nickel Industry Co., Ltd. — Huayou Cobalt's HPAL nickel processing joint venture in the Indonesia Morowali Industrial Park (IMIP), Central Sulawesi. Processes local laterite nickel ore via HPAL into mixed hydroxide precipitate (MHP) containing nickel and cobalt. MHP is then shipped to Huayou's Quzhou, Zhejiang refinery in China for conversion to battery-grade nickel sulfate and cobalt sulfate. Morowali IMIP is home to over 50 nickel processing and stainless steel companies, predominantly Chinese-invested, and has become the world's largest integrated nickel processing zone. Annual nickel capacity (MHP, Ni content): approximately 60,000-80,000 tonnes. Source: Huayou Cobalt Annual Report 2024; Wood Mackenzie Indonesia HPAL tracker; S&P Global.
Pilbara Minerals · Pilbara Region, Western Australia · mining
Pilbara Minerals' Pilgangoora lithium-tantalum hard-rock mine in the Pilbara region of WA; one of the world's largest lithium pegmatite deposits. Produces spodumene concentrate (typically 5.3-6.0% Li2O). POSCO holds 4.75% equity and a 20-year spodumene offtake contract. Ganfeng Lithium is a major customer. Pilbara sells concentrate via its BMX digital auction system at spot prices. 2023-2024 production ~700,000-750,000 MT spodumene. Spodumene exported via Port Hedland (Pilbara). Source: Pilbara Minerals ASX disclosures; POSCO press releases.
Putailai (Jiangxi Zichen Technology) · Jiangxi · manufacturing
Putailai's (Jiangxi Zichen) primary anode graphitization and processing complex in Nanchang, Jiangxi Province. Also produces Acheson furnace equipment for third-party sale. Major capacity expansion announced 2022-2024 to serve CATL and BYD supply chains. Source: https://www.putailai.com
Resonac Holdings (formerly Showa Denko + Hitachi Chemical) · Nagano · manufacturing
Resonac Holdings' (formerly Showa Denko) primary synthetic graphite production facility in Omachi, Nagano Prefecture, Japan. Produces both battery anode material (SCMG series) and graphite electrodes for electric arc furnaces. The Omachi plant has operated since the 1930s; battery anode production added/expanded for EV demand. Primary supply source for the Panasonic-Tesla 2170 cylindrical cell supply chain at Gigafactory Nevada. Source: https://www.resonac.com/en/products/semiconductor/graphite-materials/
