DRC and Indonesia anchor global cobalt supply growth through 2026

Core Insights - Cobalt production is experiencing significant growth due to rising demand and substantial investments, with global output expected to reach 330 kilotonnes in 2025, marking an 8.0% increase [1] - The Democratic Republic of the Congo (DRC) is projected to maintain its dominance in the cobalt market, accounting for approximately 72% of global output in 2025 [1] - Indonesia is emerging as a key player, expected to produce 59.8 kilotonnes of cobalt in 2026, reflecting a 21.2% increase from the previous year [4] Group 1: Global Cobalt Production - Global cobalt output is anticipated to grow by 6.9% to reach 352.8 kilotonnes in 2026, driven by supply increases from the DRC and Indonesia [2] - The DRC's cobalt mine output is projected to grow by 4.4% to reach 247.7 kilotonnes in 2026, supported by high-grade feed from Glencore's Mutanda and the Musonoi underground project [3] Group 2: DRC's Cobalt Supply - The DRC's leading position in cobalt supply is bolstered by vast resources and strategic partnerships with Chinese mining companies, facilitating large-scale mine development [2] - Key contributors to DRC's production include China Molybdenum's Kisanfu and Tenke Fungurume Mining operations, which are expected to sustain positive production momentum [3] Group 3: Indonesia's Cobalt Growth - Indonesia's rise in cobalt production is largely attributed to investments in high-pressure acid leach (HPAL) facilities, with new projects like Pomalaa and Morowali set to commence in 2026 [4] - The ongoing ramp-up of Zhejiang Huayou's Huafei Cobalt-Nickel Project and expansions at Ningbo Lygend Mining's PT Halmahera Persada Lygend Project will further support Indonesia's growth trajectory [4]