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CB

Cobalt

33436.78 USD/Mt 9355.78 (38.85%) (Last updated - June 27, 2025 05:00 AM UTC )
Day High
49046
Day Low
49046
Previous Close
49046
52 Week Range
49046 - 81923
Change YTD
24.76%

About

Performance USD/oz Change
5 Day 38.85%
1 Month 36.3%
3 Months 24.76%
6 Months 24.76%
52 Week 24.76%

June 27, 2025 05:00 AM UTC

Data Powered by Stockdio. Data delayed by 5 minutes unless otherwise indicated.

Cobalt has emerged as one of the key industrial commodities with the growing popularity of electric vehicles (EVs) powered by lithium-ion batteries. It is estimated that up to 20kg of cobalt is required for EV batteries per car. In addition to the lithium-ion battery segment, cobalt is used in the manufacturing of strong magnets, super alloys, dyes, and pigments.

Cobalt, when mixed with certain metals, forms superalloys, which are used in the manufacturing of jet engines as superalloys retain strength under high pressure and temperature. Cobalt isotopes are used in the medical industry for cancer treatment.

During the mid-twentieth century, cobalt was used in beers as it helped in maintaining a foamy head. The practice stopped due to potential health hazards posed by the combination of alcohol and cobalt.

World Resources of cobalt

The majority of cobalt deposits is found in sediment-hosted stratiform copper deposits of Congo (Kinshasa) and Zambia, nickel-bearing laterite deposits in Australia, and magmatic nickel-copper sulphide deposits hosted in mafic and ultramafic rocks in Canada, Russia, the United States and Australia.

Also, significant resources have been identified in polymetallic nodules and crusts in the Atlantic Ocean, Indian Ocean, and the Pacific Ocean.

Global Production

The Democratic Republic of Congo (DRC) is the world leader in cobalt production. Russia, Australia, and Canada are also significant players, but DRC contributes nearly 69% of the global production (2021).

 

 

The mining industry of DRC has been under scrutiny for several years as reports of unethical and human rights violations keep making the headlines in the African country. A lot of artisanal mining also occurs in the country.

China, which is the global leader in cobalt consumption, uses nearly 80% of the global cobalt supply in the manufacturing process of the rechargeable battery industry.

Code Company Price Chg %Chg High Low Volume Market Cap
Basic Materials AML Aeon Metals Ltd -- -- 0.00 -- -- -- 5.482 M
Basic Materials ARL Ardea Resources Ltd 0.410 0.01 2.5 0.410 0.400 201,613 83.113 M
Basic Materials ARV Artemis Resources Ltd 0.006 0 0.00 0.006 0.005 10,716,072 15.214 M
Basic Materials ASN Anson Resources Ltd 0.047 0.001 2.174 0.047 0.045 1,309,041 61.017 M
Basic Materials AUZ Australian Mines Ltd 0.011 0 0.00 0.011 0.011 -- 12.587 M
Technology AXE Archer Exploration Ltd 0.220 0.005 2.326 0.220 0.215 70,336 57.341 M
Basic Materials BSX Blackstone Minerals Ltd 0.091 0 0.00 0.091 0.091 -- 61.080 M
Basic Materials CLA Celsius Resources Ltd 0.007 0 0.00 0.007 0.006 3,716,658 18.813 M
Basic Materials COB Cobalt Blue Holdings Ltd 0.052 0 0.00 0.052 0.052 900 23.132 M
Basic Materials CZN Corazon Mining Ltd 0.001 0.001 33.333 0.001 0.001 503,816 1.777 M
Basic Materials GED Golden Deeps Ltd 0.020 0.001 4.762 0.021 0.020 517,468 3.720 M
Basic Materials HAV Havilah Resources Ltd 0.170 0.005 3.03 0.170 0.165 31,971 59.370 M
Basic Materials HMX Hammer Metals Ltd 0.028 0.001 3.448 0.030 0.028 419,595 25.745 M
Basic Materials JRV Jervois Mining Ltd 0.011 0 0.00 0.011 0.011 -- 29.730 M
Basic Materials MEI Meteoric Resources NL 0.120 0 0.00 0.120 0.120 378,989 268.739 M
Basic Materials MQR Marquee Resources Ltd 0.008 0.001 11.111 0.008 0.008 84,424 4.466 M
Basic Materials PGM Platina Resources Ltd 0.020 0.001 4.762 0.022 0.020 268,335 13.087 M
Basic Materials RIE Riedel Resources Ltd 0.026 0.001 3.704 0.028 0.026 1,058,713 1.501 M
Basic Materials RMX Red Mountain Mining Ltd 0.009 0.001 10 0.011 0.009 7,201,361 4.650 M
Basic Materials SGQ St George Mining Ltd 0.038 0.002 5.556 0.038 0.036 3,781,581 88.203 M
Basic Materials TKM Trek Metals Ltd 0.100 0 0.00 0.110 0.100 1,068,464 53.392 M
* Data powered by EODHD®. Data delayed 20 minutes unless otherwise indicated.

Frequently Asked Questions

Cobalt has numerous applications, including alloys as an ingredient in lithium-ion batteries, and for the manufacturing of strong magnets.

Cobalt when alloyed with aluminium and nickel forms a strong magnet for industrial purposes. Properties of cobalt alloys make them suitable to be used for manufacturing jet turbines and gas turbine generators as they can withstand high temperatures.

Cobalt 60, a radioactive isotope of natural cobalt, is used in cancer treatment. For ages, cobalt has been used in the glass and ceramic industries to provide rich blue colour.

The electric vehicle industry is on fire. Cars which are yet to be rolled out in 2022 from major EV manufacturers have already been pre-booked. The EV manufacturers are experiencing challenges to cope with the rise in demand for electric vehicles.

Lithium-ion batteries use cobalt extensively. The metal is also the costliest component in an EV. Besides EV batteries, cellphones, laptops and other electronic devices having batteries use lithium-ion batteries with cobalt in them.

With the booming electric vehicle market, the cobalt industry is expected to emerge as a robust, thriving market in the near future.

According to industry reports, the EV industry consumed nearly 19,000 tonnes of cobalt in 2020. In the same year, Tesla sold nearly 500,000 electric cars but used only 2,000 tonnes of cobalt in its batteries. Although Tesla sold the highest number of cars that year, it used less cobalt than its competitors due to its usage of lithium iron phosphate (LFP) batteries.  

On average, lithium batteries used in EVs require up to 20kg of cobalt. Battery manufacturers are trying to cut down on the cobalt content to 10kg per car as the metal is the costliest component of lithium-ion batteries used to power electric cars.

As of August 2022, Australia stands at number three position in cobalt production globally and holds the world’s second-largest reserve. It is being said that the country has a huge potential to contribute to the global battery industry with ethically produced cobalt.

The Australian government has initiated several programs to boost the exploration of green metals in the country. Additionally, the critical and green metal exploration sector is witnessing international investments.

ASX-listed companies like Jervois Global (ASX:JRV), Cobalt Blue Holdings (ASX:COB) and Australian Mines (ASX:AUZ) are committed to advancing their projects and contributing to the country’s cobalt potential.  

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