Congo (Kinshasa) maintains a dominant position in the cobalt market until 2030

Congo (Kinshasa) produced 115,371 tons of cobalt in 2022, accounting for 73% of the world's cobalt supply.

According to the forecast of the International Cobalt Industry Association on the state of the world market, the importance of Congo (Kinshasa) in the world's green metal supply can continue until 2030.

According to experts' forecasts, although Indonesia has risen in terms of cobalt production, the supply of cobalt mines in Congo (Kinshasa) should account for 57% of the world's total in 2030 (73% in 2022).

According to a report by Benchmark Mineral Intelligence, during the period 2022-2030, the share of global cobalt supply growth in Congo (Kinshasa) is expected to be 44%, and that of Indonesia is 37%.

In 2022, global cobalt production will increase by 21% year-on-year to 198,000 tons. In 2023, the threshold of 200,000 tonnes of cobalt is expected to be exceeded. It is conservatively estimated that cobalt production in 2030 will be 318,000 tons.

Excerpted from - DRC News