DRC and Indonesia anchor global cobalt supply growth through 2026

GlobalData

Tue, January 13, 2026 astatine 9:41 AM CST 4 min read

Cobalt accumulation has seen important maturation successful caller years, driven by expanding request and important investments from some the authorities and backstage sectors. Global cobalt accumulation is estimated to person grown rapidly successful 2025 to scope 330 kilotonnes –a notable 8.0% growth, driven by the beardown output from Indonesia and the DRC. The DRC remains the ascendant subordinate successful the planetary cobalt marketplace and is estimated to relationship for astir 72% of the planetary output successful 2025, followed by Indonesia with 14.9%.

Looking ahead, planetary cobalt output is anticipated to turn further by 6.9% to scope 352.8 kilotonnes successful 2026, supported by the rising proviso from the 2 largest players, the DRC and Indonesia.

The DRC continues to predominate planetary cobalt supply, with its starring presumption underpinned by the country’s immense cobalt resources and long-standing strategical partnerships with Chinese mining companies, which person enabled large-scale excavation improvement and sustained output growth.

Cobalt excavation output successful the DRC is projected to turn by 4.4% to scope 247.7 kilotonnes successful 2026. Supply maturation volition beryllium driven chiefly by higher-grade provender from Glencore’s Mutanda and the ramp-up of the Musonoi underground project, which started accumulation successful September 2025. The Musonoi project, jointly owned by Jinchuan Group (75%) and Gecamines (25%), has a accumulation capableness of astir 7.4 kilotonnes of cobalt and an estimated excavation beingness of up to 14 years, strengthening the country’s medium-term proviso outlook. The accumulation trajectory is further supported by consistent, unchangeable output from China Molybdenum’s (CMOC) large operating assets successful the DRC, peculiarly the Kisanfu (KFM) and Tenke Fungurume Mining (TFM) operations, which stay cardinal contributors to nationalist cobalt production. Despite short-term marketplace headwinds, these operational developments are expected to prolong affirmative accumulation momentum.

Meanwhile, Indonesia, erstwhile a insignificant subordinate successful the planetary cobalt market, has emerged arsenic a important force, mostly driven by concern successful high-pressure acerb leach (HPAL) facilities. In 2026, the state is expected to nutrient 59.8 kilotonnes of cobalt, a 21.2% summation implicit the erstwhile year, chiefly driven by the planned commencement of caller projects specified arsenic the Pomalaa and Morowali successful 2026. In addition, the ongoing ramp-up of Zhejiang Huayou’s Huafei Cobalt-Nickel Project, which started accumulation successful Q1 2024, on with the ongoing enlargement and commissioning of further HPAL accumulation lines astatine Ningbo Lygend Mining’s PT Halmahera Persada Lygend Project, volition besides further enactment the country’s maturation trajectory successful 2026.