Global cobalt production has surged in 2025, reaching 330 kilotonnes with an 8.0% growth rate, led by Indonesia and the DRC. The DRC dominates the market with 72% of global output, followed by Indonesia at 14.9%. Production is expected to increase by 6.9% in 2026, driven by these two key players.

The DRC’s cobalt mine output is projected to grow by 4.4% in 2026, reaching 247.7 kilotonnes. Investments and partnerships with Chinese companies support this growth, with projects like Glencore’s Mutanda and the Musonoi underground project contributing to the country’s supply outlook.

Indonesia has emerged as a significant cobalt producer, set to reach 59.8 kilotonnes in 2026, a 21.2% increase from the previous year. Investments in HPAL facilities and new projects like Pomalaa and Morowali drive this growth, along with ongoing expansions and commissioning of production lines.

Australia and Canada are expected to increase their global cobalt production share from 2.6% in 2024 to 8.1% by 2035. Both countries benefit from vast mineral resources and strong mining industries, with government support through policies like tax credits and funding for critical minerals initiatives.

Canada and Australia offer tax incentives and funding to attract investments in the critical minerals sector, supporting the growth of their cobalt industries. In contrast, Russia’s cobalt production is expected to stagnate due to geopolitical tensions, while global production is forecasted to grow at a CAGR of 2.6% to reach 425.2 kilotonnes by 2035.

Read more at Yahoo Finance: DRC and Indonesia anchor global cobalt supply growth through 2026