Bruno Venditti
2024-05-31 12:15:56
www.visualcapitalist.com
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Visualizing Cobalt Production by Country in 2023
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Cobalt is a critical mineral used in numerous commercial, industrial, and military applications. In recent years, it has gained attention as it is also necessary for batteries used in cell phones, laptops, and electric vehicles (EVs).
This graphic illustrates estimated cobalt production by country in 2023 in metric tons. The data is from the most recent U.S. Geological Survey (USGS) Mineral Commodity Summaries, published in January 2024.
The DRC Produces 74% of Global Cobalt
The Democratic Republic of Congo (DRC) accounts for 74% of the world’s cobalt output. Although the metal is found on a large scale in other parts of the world, like Australia, Europe, and Asia, the African nation holds the biggest reserves by far. Of the 11,000,000 metric tons of worldwide reserves, it is estimated that 6,000,000 metric tons are located in the DRC.
| Country | metric tons | Percentage |
|---|---|---|
 DRC |
170,000 | 74% |
 Indonesia |
17,000 | 7% |
 Russia |
8,800 | 4% |
 Australia |
4,600 | 2% |
 Madagascar |
4,000 | 2% |
 Philippines |
3,800 | 2% |
 Other Countries |
21,100 | 9% |
| Total | 229,300 | 100% |
Since around 20% of the cobalt mined in the DRC originates from small-scale artisanal mines, often employing child labor, the extraction of the metal has been a point of intense debate. With a long history of conflict, political upheaval, and instability, the country is often listed among the poorest nations in the world.
Today, the EV sector constitutes 40% of the overall cobalt market.
China is the world’s leading consumer of cobalt, with nearly 87% of its consumption used by the lithium-ion battery industry.
In the U.S., 50% of cobalt consumed is used in superalloys, mainly in aircraft gas turbine engines.
Learn More About Critical Minerals From Visual Capitalist
If you enjoyed this post, be sure to check out The Critical Minerals to China, EU, and U.S. National Security. This visualization shows which minerals are essential to China, the United States, and the European Union.
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