Cobalt: World Refinery Production, By Country Or Locality

This table presents refined cobalt production figures by country or locality over the five-year period from 2019 through 2023, measured in metric tons of cobalt content. This data is critical for understanding the global supply landscape of cobalt, a metal essential to numerous high-tech and clean energy applications, including rechargeable batteries for electric vehicles, aerospace components, and catalysts. Tracking refinery production helps stakeholders assess market dynamics, potential supply risks, and the geographic distribution of cobalt processing capacity, which in turn influences pricing, trade policies, and investment decisions in the mineral sector.

Analysis of the data reveals that global refinery production of cobalt has generally increased, rising from 139,000 metric tons in 2019 to an estimated 180,000 metric tons in 2023. China remains the dominant producer, with output growing from 95,000 metric tons in 2019 to an estimated 147,000 metric tons in 2023, underscoring its central role in the cobalt supply chain. Notable declines occurred in several other countries; for example, Finland’s production decreased from 14,283 metric tons in 2019 to 10,627 metric tons in 2023, and Australia’s output fell from 3,700 metric tons in 2019 to 2,400 metric tons in 2023. Madagascar showed a significant rebound, increasing from 833 metric tons in 2020 to 3,400 metric tons in 2023. Some countries like Indonesia began reporting refinery production only recently, with an estimated 400 metric tons in 2023. Meanwhile, production in Russia and Mexico declined sharply over the period, with Russia dropping from 2,000 metric tons in 2019 to 1,000 metric tons in 2023, and Mexico falling from 215 metric tons to just 50 metric tons. These shifts highlight evolving regional contributions and potential supply chain adjustments in the cobalt refining industry.