mineral · input
Cobalt-bearing copper ore extracted primarily from the DRC Copperbelt / Katanga province, the world's largest cobalt deposit. Processed into cobalt hydroxide intermediate for export, predominantly to Chinese refiners.
6
Source countries
6
Companies
1
Goods affected
0
Claims on record
What depends on it
1 essential American goods rely on cobalt ore (drc) somewhere upstream in their supply chain.
Where it comes from
Share of global supply, by country.
| Country | Share of supply |
|---|---|
| CDDemocratic Republic of Congo | 74% |
| IDIndonesia | 10% |
| RURussia | 4% |
| AUAustralia | 3% |
| PHPhilippines | 3% |
| ZMZambia | 2% |
Who makes it
6 companies produce cobalt ore (drc).
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.
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.
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.
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.
Eurasian Resources Group S.a.r.l. (ERG; HQ Luxembourg; privately held; owned by Kazakhstani investors including the ENRC predecessor group) is a diversified natural resources company and the operator of Metalkol RTR (Roan Tailings Reclamation) in Kolwezi, DRC — described as the world's second-largest standalone cobalt producer by volume. Metalkol processes historical tailings (mine waste dumps) from the Kolwezi Tailings project, with nameplate capacity of approximately 23,000 tonnes of cobalt in hydroxide and 100,000 tonnes of copper cathode annually; it achieved design cobalt capacity in 2021. ERG markets Metalkol cobalt hydroxide to Western battery manufacturers (including a 3,000 tpa IRA-compliant supply agreement signed 2024 with Electra Battery Materials, Canada) as a conflict-mineral-free alternative to ASM-contaminated cobalt. The Metalkol RTR facility has completed the Responsible Minerals Assurance Process (RMAP), making ERG one of the few DRC cobalt suppliers that can document chain-of-custody compliance.
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.
