Cobalt Supply

So far, this paper has focused on the properties, usages and characteristics of cobalt.
It is now important to discuss this critical metal from the supply perspective which due
to its diverse applications across many industries, it has recently been regarded as a
technology enabling element. As the world embraces different innovative ways
towards enhancing life quality and sustainability, especially with regards on green
technology the importance of cobalt has been getting momentum from the last decade.
These views are supported by the Cobalt Institute (2018) which states that from the
second half of the last century, the global mine production of cobalt has trended
upwards to meet the demand in fact, it has reported an increase of over 25 % of the
total annual refined cobalt supply in 2017 compared to the previous year. (Cobalt
Institute 2018)

The table1 represents the world’s availability of cobalt refined in tonnes as produced
by Cobalt Institute Members and others.

Table1. Availability of World’s Cobalt Supply. (Cobalt Institute 2018)

2.1 World’s Cobalt Resources

In accordance to the USGS (2017) the total terrestrial cobalt resources account for
nearly 25.5 Mt, among the terrestrial deposits containing cobalt. These ore deposits
are generally grouped into four main deposits which represent almost entirely the
world’s total terrestrial cobalt resource, out of which it is estimated to have 7 Mt of
reserves available.

Although out of the scope of this document, it is important to highlight that cobalt
occurs as well in the sea floor in aerially extensive deposits of Fe-Mn (-Ni-Co-Cu-Mo)
nodules and Fe-Mn (- Co-Mo-rare-earth-elements) crusts. The USGC estimated that
these ocean floor deposits contain approximately 147 Mt of resources. Different
barriers in terms of available technology and costs have prevented the extraction of
these resources. (USGC 2017)
The figure X shows a pie chart representing the proportions of cobalt contained in
mineral deposits worldwide.

Figure 2. World’s cobalt distribution by deposit type.

Retrieved from: USGC, 2017.

2.2 World’s Primary Cobalt Production

Cobalt is mined in various countries but is dominated by the Democratic Republic of

Congo, which presently its primary cobalt output represents 68 % of the world’s
production, other significant producers include: Russia, Australia, Canada amongst
others. The figure 2 shows the global mine production of cobalt in 2017.

WORLD'S COBALT MINE PRODUCTION

DRC Russia Australia Canada
Cuba Phillipines Madagascar Papa New Guinea

4%3%
4%
5%
5%
5%
6%
68%

Figure 2. World’s cobalt mine production distribution by country (Roberts and Gunn
2017)