CMOC Emerges as Top Cobalt Producer with 170% Output Jump

A New Era in Cobalt Production

Editorial Team (ET)July 16, 2025

China’s CMOC Group boosted its cobalt output by more than 170% last year, with surging production at a new mine in the Democratic Republic of Congo helping the company leapfrog Glencore Plc as the world’s top producer of the key battery metal.

Hong Kong-listed CMOC produced 55,526 tons of cobalt in 2023, it said in a filing on Thursday. In October, Glencore forecast output of as much as 42,000 tons. While investors and traders had been expecting a large increase at CMOC’s massive Kisanfu mine — which came online in the second quarter — the full-year result exceeded the company’s own production guidance by more than 20%.

The Rise of CMOC Group

CMOC Group, a prominent player in the global mining industry, has taken the cobalt industry by storm. Its remarkable achievement of increasing cobalt production by over 170% in the past year has catapulted it to the forefront of the sector. This seismic shift in cobalt production has significant implications, not only for CMOC but also for the broader battery industry.

A Brief Background on CMOC Group

Before delving into CMOC's impressive cobalt production, it's essential to understand the company's background. CMOC Group, headquartered in China, has steadily gained prominence in the mining industry. Its strategic investments and focus on key resources have positioned it as a major player in the global market.

The Role of the Kisanfu Mine

The cornerstone of CMOC's success in cobalt production lies in its massive Kisanfu mine, located in the Democratic Republic of Congo. This colossal mining operation came online in the second quarter, significantly boosting CMOC's cobalt output. The mine's contribution exceeded even the company's own production projections, signaling a tremendous achievement.

Glencore's Former Dominance

For years, Glencore Plc held the title of the world's leading cobalt producer. Its dominance in the market was unchallenged, making it a key player in the battery metal industry. However, CMOC's recent surge in cobalt production has reshaped the industry landscape.

Glencore's Historical Position

Glencore's historical significance in cobalt production cannot be understated. The company played a pivotal role in meeting the global demand for cobalt, especially in the burgeoning electric vehicle market.

Glencore's Production Forecast

In contrast to CMOC's staggering cobalt output, Glencore forecasted a production of up to 42,000 tons in October. This forecasted output pales in comparison to CMOC's actual production figures, marking a significant shift in the balance of power.

Market Impact

CMOC's exponential increase in cobalt production has had profound implications for the cobalt market, causing ripples that extended far beyond the company itself.

Effects of CMOC's Surging Cobalt Production

The surge in CMOC's cobalt production caused a sharp decline in cobalt prices throughout the year. The market, which was already experiencing one of its most substantial surpluses, faced additional pressure due to CMOC's increased output.

Cobalt Prices and Their Sharp Decline

The mismatch between supply and demand became so acute that Glencore had to resort to stockpiling surplus cobalt to restore market equilibrium. The impact of CMOC's production increase was undeniable, with cobalt prices plummeting by 30% over the course of the year.

Balancing Supply and Demand

Glencore's efforts to balance the surplus cobalt supply further underscore the significance of CMOC's rise as a major cobalt producer.

Glencore's Countermeasures

To mitigate the effects of the oversupply, Glencore initiated actions to stockpile surplus cobalt at its operations in Congo. This strategic move aimed to bring the cobalt market back into balance. The success of these measures will be closely watched as Glencore prepares to announce its full-production results.

CMOC's Impressive Copper Output

In addition to its remarkable cobalt production, CMOC achieved substantial growth in copper output, further solidifying its position in the mining industry.

Substantial Increase in Copper Production

CMOC's copper output surged by an impressive 51% to reach 419,539 tons. This achievement cements its status as one of the world's top copper producers at a time when many mining companies are grappling with production challenges.

CMOC Among Top Copper Producers

CMOC's ascent in the copper sector is a testament to its ability to excel in multiple resource markets. Its remarkable performance in copper production highlights the company's resilience and adaptability in a competitive industry.

Conclusion

In conclusion, CMOC Group's remarkable achievement in boosting cobalt production by over 170% in 2023 is a significant milestone in the mining and battery industries. This surge has propelled CMOC to the top position as the world's leading cobalt producer, surpassing the long-standing dominance of Glencore Plc. The effects of CMOC's production increase have reverberated throughout the cobalt market, leading to a substantial drop in prices and challenging the industry's balance of supply and demand.

Furthermore, CMOC's impressive growth in copper output further solidifies its status as a formidable player in the mining sector. As the company continues to make strides in both cobalt and copper production, its future outlook appears promising.

GlencoreKobalt

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