World's Top Cobalt Producer CMOC Breaks Record Last Year

Foreks - The world's number one cobalt miner produced a record amount of cobalt in 2024, thanks to its rapid expansion of massive mines in Africa. Chinese CMOC Group Ltd announced that it produced 114,165 tons of cobalt last year. This is double the 2023 figure and significantly higher than the forecast of 70,000 tons for 2024. CMOC surpassed Glencore as the world's largest supplier of cobalt in 2023, with its staggering production rate from mines in the Democratic Republic of Congo further solidifying its leadership in cobalt production. Reference cobalt prices fell to an eight-year low last year.