Atomic properties
Market data
Raw material sources & pricing
| Raw Material Form | Grade/Quality | Price/Payable Rate | Major Sources | Notes |
|---|---|---|---|---|
| Copper-Cobalt Ore | 0.1-0.5% Co, 2-5% Cu | 67-69% of LME | DRC (Katanga, Tenke) | Primary source, ratio 10:1 Cu:Co |
| Nickel-Cobalt Laterite | 0.05-0.2% Co, 1-2% Ni | 60-65% of LME | Indonesia, Philippines, Cuba | HPAL processing required |
| Nickel-Cobalt Sulfide | 0.1-0.3% Co, 2-5% Ni | 70-75% of LME | Canada, Russia, Australia | Easier to process than laterites |
| Cobalt Hydroxide (Intermediate) | 30-40% Co | $21,000-25,000/MT | DRC refineries | Main feedstock for battery chemicals |
| Artisanal Cobalt Ore | 3-10% Co (higher grade) | 40-50% of LME | DRC (15-20% of supply) | ESG concerns, traceability issues |
Cobalt Ore - Primary Raw Material (By-Product Mining)
Current Market Price: $34,040/MT (LME Cobalt Metal - up 39% Q1 2025) Major Global Reserves (11.4 million MT total): Democratic Republic of Congo (DRC): 6.0 million MT (52.8% of world reserves) Australia: 1.9 million MT (16.7% of world reserves) Indonesia: 0.6 million MT (5.3% of world reserves) Cuba: 0.5 million MT (4.4% of world reserves) Philippines: 0.3 million MT (2.6% of world reserves) Russia: 0.3 million MT (2.6% of world reserves) Canada: 0.3 million MT (2.6% of world reserves) 2024 Production Leaders (290,000 MT total): DRC: 211,700 MT (73% of global production - mostly from copper-cobalt mines) Indonesia: 21,170 MT (7.3% - from nickel laterite operations) Russia: 8,700 MT (3% - from nickel-copper sulfide deposits) Canada: 6,380 MT (2.2% - from nickel sulfide operations) Australia
⚠️ Seawater Cobalt Extraction
Commercial Viability: NOT ECONOMICALLY VIABLE Concentration: 0.002-0.007 µg/L (extremely low - 0.000002-0.000007 ppm) Chemical Form: Co²⁺ ions and cobalt-organic complexes Status: No commercial extraction from seawater exists. Concentration is approximately 10,000 times lower than aluminum and 1 million times lower than magnesium in seawater. Research Focus: Limited to analytical chemistry studies and environmental monitoring rather than extraction.
Production cost analysis
| Cost Component | $/MT Cobalt | % of Total Cost | Notes |
|---|---|---|---|
| Mining & Ore Processing | $8,000-12,000 | 35-40% | As by-product, allocated costs |
| Hydrometallurgical Processing | $4,000-6,000 | 18-22% | Leaching, SX-EW, precipitation |
| Energy Costs | $3,000-4,500 | 13-16% | Lower than aluminum smelting |
| Reagents & Chemicals | $2,500-3,500 | 11-13% | Sulfuric acid, extractants |
| Labor & Overhead | $2,000-3,000 | 9-11% | Including ESG compliance |
| Transport & Logistics | $1,500-2,500 | 7-9% | Remote locations, export costs |
| Total Production Cost | $21,000-31,500 | 100% | Compare to selling price: $34,000-36,000/MT |
Energy consumption breakdown
| Process Stage | Energy Consumption | % of Total Energy | Energy Type | Key Operations |
|---|---|---|---|---|
| Mining & Comminution | 20-30 MJ/kg | 35-40% | Diesel, Electricity | Open pit/underground mining, crushing, grinding |
| Leaching & SX-EW | 15-25 MJ/kg | 25-30% | Electricity, Steam | Acid leaching, solvent extraction, electrowinning |
| Refining to Metal | 10-15 MJ/kg | 20-25% | Electricity, Natural Gas | Hydrogen reduction or electrolysis |
| Chemical Processing | 5-10 MJ/kg | 10-15% | Steam, Electricity | Conversion to sulfate, oxide, or hydroxide |
Hydrometallurgical Process Details
Acid Leaching: H₂SO₄ at 80-95°C, 4-8 hours Impurity Removal: Iron, copper precipitation Solvent Extraction: Organic extractants (D2EHPA, Cyanex) Electrowinning: 2-4V DC, current efficiency 85-95% Or Precipitation: As hydroxide or carbonate
By-Product Economics
Copper Operations: Co credits reduce Cu costs by 5-15% Nickel Operations: Co credits reduce Ni costs by 10-20% Allocation Method: Market value or physical units Price Sensitivity: High Co prices incentivize recovery Recovery Rates: 60-85% depending on process
Commercial forms & specifications
| Product Form | Chemical Formula | Molecular Weight | Typical Purity | Price Range (USD/kg) | Main Applications |
|---|---|---|---|---|---|
| Cobalt Metal (Cathode) | Co | 58.93 g/mol | 99.3-99.8% | $34.00-36.00 | Superalloys, magnets, catalysts |
| Cobalt Sulfate Heptahydrate | CoSO₄·7H₂O | 281.10 g/mol | 20.5-21% Co | $7.00-9.00 | Li-ion battery cathodes, electroplating |
| Cobalt Oxide (Co₃O₄) | Co₃O₄ | 240.80 g/mol | 71-73% Co | $25.00-30.00 | Ceramics, catalysts, battery precursor |
| Cobalt Hydroxide | Co(OH)₂ | 92.95 g/mol | 61-63% Co | $21.00-25.00 | Battery chemical precursor |
| Cobalt Carbonate | CoCO₃ | 118.94 g/mol | 46-49% Co | $18.00-22.00 | Ceramics, feed additive, catalysts |
| Cobalt Chloride Hexahydrate | CoCl₂·6H₂O | 237.93 g/mol | 24-25% Co | $35.00-45.00 | Humidity indicators, catalysts |
| Cobalt Acetate Tetrahydrate | Co(C₂H₃O₂)₂·4H₂O | 249.08 g/mol | 23-24% Co | $40.00-50.00 | Catalysts, drying agent |
| Cobalt Powder (Fine) | Co | 58.93 g/mol | 99.5-99.9% | $45.00-65.00 | Cemented carbides, diamond tools |
| Cobalt Nitrate Hexahydrate | Co(NO₃)₂·6H₂O | 291.03 g/mol | 20-21% Co | $30.00-40.00 | Catalysts, vitamin B12 synthesis |
| Lithium Cobalt Oxide | LiCoO₂ | 97.87 g/mol | 60% Co | $55.00-70.00 | Li-ion battery cathodes |
Suppliers by country
🇨🇳 China
| Company | Product Forms | Specialties |
|---|---|---|
| CMOC Group (China Molybdenum) | Hydroxide, metal, sulfate | World's largest producer (55,526 MT in 2023), Tenke & Kisanfu mines in DRC |
| Huayou Cobalt | Sulfate, oxide, metal, tetroxide | Integrated supply chain, battery materials focus |
| GEM Co. Ltd. | Powder, oxide, sulfate | Recycling leader, battery materials |
| Jinchuan Group | Metal, sulfate, chloride | Nickel-cobalt integrated producer |
🇨🇭 Switzerland
| Company | Product Forms | Specialties |
|---|---|---|
| Glencore | Metal, hydroxide, concentrates | Former #1 producer (42,000 MT), Katanga & Mutanda mines in DRC |
🇧🇪 Belgium
| Company | Product Forms | Specialties |
|---|---|---|
| Umicore | Refined chemicals, cathode materials, recycling | Battery materials leader, owns Kokkola refinery in Finland |
🇰🇿 Kazakhstan
| Company | Product Forms | Specialties |
|---|---|---|
| Eurasian Resources Group (ERG) | Metal, hydroxide, sulfate | RTR project in DRC, integrated producer |
🇨🇦 Canada
| Company | Product Forms | Specialties |
|---|---|---|
| Vale | Metal, oxide, sulfate | Nickel-cobalt operations, Long Harbour refinery |
| Sherritt International | Metal, sulfate, oxide | Cuba JV, Fort Saskatchewan refinery |
🇷🇺 Russia
| Company | Product Forms | Specialties |
|---|---|---|
| Nornickel (Norilsk Nickel) | Metal, sulfate, concentrates | Nickel-cobalt-PGM integrated producer |
🇯🇵 Japan
| Company | Product Forms | Specialties |
|---|---|---|
| Sumitomo Metal Mining | Sulfate, hydroxide, cathode materials | HPAL technology, battery materials |
🇦🇺 Australia
| Company | Product Forms | Specialties |
|---|---|---|
| BHP | Sulfate, intermediates | Nickel West operations, battery materials strategy |
| Cobalt Blue | Sulfate (planned) | Broken Hill project, primary cobalt focus |
Market demand by product form
| Product Form | Global Market Size | 2025 Demand | Key Markets | Growth Rate (CAGR) |
|---|---|---|---|---|
| Cobalt Sulfate | $7.9 billion | 71% of chemical demand | China (70%), Korea, Japan | 7.7% |
| Cobalt Metal | $6.8 billion | 40,000 MT | USA, Europe, China | 4.5% |
| Cobalt Oxide | $3.2 billion | 25,000 MT | China, Japan, Europe | 6.1% |
| Cobalt Hydroxide | $4.5 billion | 180,000 MT | China (refineries) | 8.2% |
| Battery Precursors (NCM/NCA) | $12.0 billion | 120,000 MT Co content | China, Korea, Japan | 9.3% |
| Cobalt Powder | $0.8 billion | 12,000 MT | China, Europe, USA | 5.5% |
Market trends
DRC Export Suspension: 4-month ban (Feb-June 2025) caused 69% price spike to $36,262/MT Oversupply Challenges: 290,000 MT supply vs 213,000 MT demand in 2024 CMOC Dominance: Now world's largest producer after 170% output increase LFP Battery Growth: Market share increased from 6% (2020) to 34% (2025) ESG Focus: ReSource blockchain traceability pilot by major producers Indonesia Rise: Second-largest producer from nickel laterite operations Recycling Growth: Battery recycling to provide 40% of supply by 2040 Price Volatility: Nine-year low of $21,467/MT in January 2025 Artisanal Mining: 15-20% of DRC production, 200,000 artisanal miners EU CRMA Impact: Critical Raw Materials Act requires ESG compliance from 2025
Moles per kilogram
| Product Form | Formula | MW (g/mol) | Moles/kg |
|---|---|---|---|
| Cobalt Metal | Co | 58.93 | 16.97 |
| Cobalt Sulfate (anhydrous) | CoSO₄ | 154.99 | 6.45 |
| Cobalt Sulfate Heptahydrate | CoSO₄·7H₂O | 281.10 | 3.56 |
| Cobalt Oxide | Co₃O₄ | 240.80 | 4.15 |
| Cobalt Hydroxide | Co(OH)₂ | 92.95 | 10.76 |
| Cobalt Carbonate | CoCO₃ | 118.94 | 8.41 |
| Cobalt Chloride Hexahydrate | CoCl₂·6H₂O | 237.93 | 4.20 |
| Lithium Cobalt Oxide | LiCoO₂ | 97.87 | 10.22 |
References
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