Global Cobalt Mining to 2024 - Update with Impact of COVID-19

Global Cobalt Mining to 2024 - Update with Impact of COVID-19

Summary

GlobalData's Global Cobalt Mining to 2024 - Update with Impact of COVID-19 provides a comprehensive analysis of the global cobalt industry. The report provides historical and forecast data analysis on cobalt reserves and production by country, along with the impact COVID-19 has had to date on the cobalt industry. The report also examines trends in imports and exports and an analysis of the demand drivers, with information on various factors that are affecting global cobalt demand, such as growth in electric vehicle sales, EV battery production and trends in battery technology. Finally, the report includes profile of the major cobalt producers along with information on their output, revenues and key operating mines.

Globally, cobalt is typically mined as a by-product of copper or nickel and with over half of the global reserves found in DRC. After a strong growth of 23.3% in 2018, the global cobalt production fell by 5.4% in 2019. Further, The COVID-19 has a significant impact over the metal production, with an expected fall of 18.2% in 2020 to 114.5Kt. Meanwhile, the production in DRC is expected to fall by 21.6%, due to the pandemic impact and the continued closure of the Mutanda mine. The pandemic restrictions have also led to the temporary closure of 21 mining operations across the world. Looking ahead, GlobalData estimates the global cobalt production to rebound between 2021 and 2024, with the expected restart of the Mutanda mine in 2023, which was temporarily closed in November 2019, on the back of falling prices. The global cobalt demand is driven by the electric vehicles (EVs) industry, as cobalt is a key component for the lithium-ion batteries used in EVs. The long-term outlook for cobalt remains uncertain, as the EVs manufacturers are looking at the potential to use cobalt free batteries in order to reduce cost.

Scope

• The report contains an overview of global cobalt mining industry including key demand driving factors affecting the global cobalt mining industry.
• It provides detailed information on reserves, reserves by country, production, production by country, COVID-19 impact over the global cobalt production, major operating mines, cobalt prices, competitive landscape, major exploration and development projects, major demand drivers for cobalt incluidng demand from EV, EV production, battery demand, battery technology, EV policies and major exporters and importers.

• To gain an understanding of the global cobalt mining industry and the impact COVID-19 is having on the metal's demand and supply
• To understand historical and forecast trends in global cobalt production.
• To assess the major importers and exporters of cobalt
• To understand the future potential for end user markets, such as global EV markets, and EV policies in China, India, South Korea and Japan
• To analyse the key players in the global cobalt mining industry
• To gain an understanding of major active, exploration and development projects
• To understand the future demand outlook of cobalt and major upcoming developments in EV battery technology