5 Largest Cobalt Mining Companies and Their Mines in the World

2. Glencore plc (LSE:GLEN)

Average Annual Revenue: $200.6 billion 

Glencore Plc (LSE:GLEN) is a global leader in both the production and marketing of cobalt, with its 2022 output of the metal totaling 43.8 kilotons. The company’s activities in cobalt extraction and processing span multiple continents, with operations in the Democratic Republic of the Congo (DRC), Australia, Canada, and Norway. In the DRC, Glencore’s significant operations include the Kamoto Copper Company (KCC) and Mutanda Mining, both situated in Lualaba Province and producing cobalt hydroxide and copper cathodes.

In Australia, Glencore plc (LSE:GLEN) operates the Murrin Murrin nickel-cobalt mine in Western Australia, noted for producing refined nickel and cobalt metal. Norway houses Glencore’s Nikkelverk, which also produces high-quality cobalt and copper cathodes. In Canada, the company runs the Raglan Mine in northern Quebec, one of the world’s richest base-metal mines, and the Sudbury Integrated Nickel Operations in northern Ontario, which include a smelter.

Regarding cobalt production, China’s CMOC Group Limited is poised to surpass Glencore Plc as the leading global cobalt producer this year, driven by the growing demand for critical metals in green energy. CMOC Group aims to challenge Glencore’s current leadership by planning to double its production by year’s end. This anticipated increase is due to the introduction of a new, large-scale mine in the Congo, expected to commence operation in the second quarter. As reported by Bloomberg, this development is likely to position CMOC above Glencore in cobalt production.