![]() ![]() 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.Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.© RHJPhtotos / Key Points This is an updated version of an article first published by the Investing News Network in 2019.ĭon’t forget to follow us for real-time news updates! the Phillipines’ Taganito (2,550 tonnes).Australia’s Murrin Murrin mine (2,900 tonnes).The last five on the list are not far behind Ramu: three DRC mines - Ruashi (5,090 tonnes in 2020), Lubumbashi Slag Hill (4,000 tonnes) and Mutoshi (4,000 tonnes).The mines listed above are just five of the 15 top-producing cobalt mines, according to S&P Global Market Intelligence. The company reportedly invested US$147.2 million in the project in 2018. Today, the mine is owned by Chinese firm Congo Dongfang International Mining. The site was one of the first cobalt mines in the region, with production dating back to 1900. The Luiswishi copper-cobalt mine, which is also located in the DRC’s Katanga province, is a medium-size open-pit mine close to the province’s capital city. ![]() Artisanal miners worked the area until 2000, when the Ruashi-Etoile concession, located in the DRC’s Katanga province, was divided and offered to private investors.Ĭhemaf, which is owned by Shalina Resources, is also constructing a processing plant to produce up to 16,000 tonnes of cobalt at its Mutoshi mine in Katanga province. In 2003, private company Chemaf was granted the mining rights to Etoile, which produces copper and cobalt oxides and sulfates. The company is involved in ending child labor in the DRC’s mining industry. The goal is to reduce local pollution by relocating legacy tailings to a responsibly managed facility.ĮRG has committed to the Responsible Minerals Assurance Process, part of the Responsible Minerals Initiative. This includes the existing Kingamyambo tailings deposit and those in the Musonoi River. Metalkol RTR reprocesses historical cobalt-copper tailings that were accumulated over decades of mining by previous operators. The Metalkol RTR hydrometallurgical cobalt and copper facility, which is located in the DRC’s Haut-Katanga province, is operated by Eurasian Resources Group (ERG) Africa. In addition to its cobalt output, the mine is the DRC’s largest copper producer. Production in 2020 fell by more than 650 tonnes from 2019 levels. Tenke Fungurume has been struggling to meet production targets due to falling metal prices combined with higher taxes and royalties in the African country. Tenke Fungurume, located in the DRC’s Lualaba province, is 80 percent owned by China Molybdenum (OTC Pink: CMCLF,SHA:603993) and 20 percent owned by state mining company Gecamines. In early 2021, Glencore inked a five year supply contract for cobalt hydroxide from Kamoto with cobalt refiner First Cobalt (TSXV: FCC,OTCQX:FTSSF). Production at Kamoto has been incrementally increasing since commercial operations first began in 2007. Katanga’s cobalt production was up 40 percent in 2020 over the previous year. ![]()
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