Introduction
Cobalt is a valuable mineral that is widely used in the manufacturing of batteries for electric vehicles, smartphones, and other electronic devices. As the world moves towards a more sustainable future, the demand for cobalt is expected to increase. In this article, we will explore the world cobalt reserves by country in 2023.
The Top Cobalt Reserves by Country
Democratic Republic of Congo
The Democratic Republic of Congo is currently the largest producer of cobalt in the world, accounting for over 60% of global production. The country also has the largest cobalt reserves in the world, estimated at over 3.6 million metric tons.
Australia
Australia is the second-largest producer of cobalt in the world, with reserves estimated at 1.2 million metric tons. The country is also a major exporter of cobalt, with most of its production going to China.
Canada
Canada is the third-largest producer of cobalt in the world, with reserves estimated at 1 million metric tons. The country’s cobalt production is mainly focused on the province of Ontario, where several mines are located.
Zambia
Zambia is the fourth-largest producer of cobalt in the world, with reserves estimated at 670,000 metric tons. The country’s cobalt production is mainly derived as a by-product of copper mining.
Cuba
Cuba is the fifth-largest producer of cobalt in the world, with reserves estimated at 500,000 metric tons. The country’s cobalt production is mainly derived as a by-product of nickel mining.
Other Countries with Cobalt Reserves
Other countries with significant cobalt reserves include Russia, Madagascar, Papua New Guinea, and the Philippines. However, these countries have relatively smaller reserves compared to the top five cobalt-producing countries.
Conclusion
The world cobalt reserves are concentrated in a few countries, with the Democratic Republic of Congo having the largest reserves. As the world moves towards a more sustainable future, the demand for cobalt is expected to increase, creating opportunities for countries with significant reserves to benefit from the growing market.