is a Chinese mining company headquartered in Zhejiang Province, China. – $4.792 billion Zhejiang Huayou Cobalt is based in the Tongxiang Economic Development Zone of Zhejiang, China. It also sources its cobalt by recycling used smartphone and EV battery cathodes. Umicore discontinued sourcing cobalt from artisanal mines almost two decades ago. It prides itself as the world’s largest producer of sustainably-sourced cobalt. The company reported a revenue of $4 billion in 2021, a 22% increase from the previous financial year. However, more recently, it traces its history back to Union Miniere du Haut-Katanga (UMHK) in the DRC.Īfter the nationalization of UMHK, it started focusing on specialty and precious metals. Umicore is a mining and refining company that can trace its history back to 1805, when Napoleon Bonaparte gave Jean Dony control over the Vielle-Montagne mine on the Belgian-Germany border. #7: Umicore – $4 billion Umicore has its headquarters in Brussels, Belgium. It bought ICO in 2019 and commissioned operations in October 2022. SMP refined 2,000 tons of cobalt in 2021, contributing to the $162 million revenue the company reported in 2021. Nico Young, which handles nickel and cobalt sourcing and refining.Idaho Cobalt Operations (ICO) in Idaho, U.S.,.Sao Miguel Paulista (SMP) based in Sao Paulo, Brazil,.Jervois Global Limited has four principal subsidiaries: It mines and refines nickel and cobalt for use in chemicals and catalysts, powder metallurgy, pigments, and batteries.
The company has gradually built its capacity as it aims to become the largest nickel and cobalt producer globally. Jervois Global Limited is an Australia-based mining and exploration company formed in 1962.
#8: Jervois Global Limited – $162 million In 2021, the joint venture produced 3,526 tons of cobalt, contributing to its $110 million revenue. The partnership is vertically-integrated, where they mine ore containing cobalt and nickel, then process, refine, and sell it globally except to the U.S. In Cuba, it has a joint partnership with the General Nickel Company called the Moa Joint Venture. The company sources its cobalt mainly from Cuba and Madagascar. Sherritt International is a significant producer of finished cobalt at a purity of 99.9%. It focused primarily on mining and refining nickel and cobalt in addition to power generation. The company began operations in 1927 and has mines in Canada, Cuba, and Madagascar. Sherritt International is a Canadian mining and refining company based in Toronto, Ontario. #9: Sherritt International – $110 million According to their mid-year reports, Panoramic Resources Limited produced 200 tons of cobalt from the Savannah mine, with production expected to ramp up from late 2022 into 2023. The mine resumed operations in October 2021, with the first shipment leaving the mine in December 2021. It also runs the Savannah nickel-copper-cobalt mine in Western Australia. It focuses on the production of nickel, copper, and cobalt. The company is headquartered in Perth, Western Australia. Panoramic Resources Limited is an Australian mining company founded in 2001. #10: Panoramic Resources Limited – $90.39 million The following article will highlight the ten largest cobalt mining companies worldwide, ranked by annual revenue. This property has made cobalt ideal for the electric vehicle and smartphone industries. The metal’s heat resistance properties make it ideal for the production of batteries because its properties are not easily altered during charging and discharging. The element combines with other elements like nickel and copper naturally. Glencore PLC is the largest cobalt mining company in the world, at 203 billion.Ĭobalt is a hard, lustrous, steel-gray, ferromagnetic metallic element that does not exist on its own on Earth.Cobalt is used in many products, including superalloys, magnets, catalysts, jet turbines, and lithium-ion batteries.Cobalt mining companies dig hundreds of feet under the earth to collect cobalt.
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