Cobalt price at lowest since 2016 amid record production
me-metals: Image courtesy of CMOC Group.
Cobalt prices have plummeted to their lowest level since 2016, as record-high production continues to weigh on the battery material’s value.
According to me-metals cited from mining.com, China’s CMOC Group, the world’s largest cobalt miner, set a new production record last year and plans to maintain similar output levels through 2025, driven by ramped-up operations at two African mines.
The company recently provided a 2025 output guidance of 100,000-120,000 tonnes on its WeChat account, after producing 114,165 tonnes in 2024. Notably, CMOC surpassed its 2024 full-year production forecast within the first nine months of the year.
As of January 23, 2025, spot cobalt was trading at $11.02 per pound.
.Cobalt is often extracted as a byproduct from digging up copper, which CMOC is bullish on over the longer term. For the red metal, the company is targeting production of between 600,000-660,000 tonnes in 2025, compared with 650,000 tonnes last year.
source: mining.com
Related News
One last month
One last month
One last month
One last month
One last month
One last month
One last month
One last month
Top News
Seventeen Days ago
Ascot lines up $45M financing to reboot Premier gold mine
US, Ukraine ramp up talks on minerals deal during envoy trip
THE WORLD-LARGEST RETAINED MANDREL SEAMLESS PIPE PLANT WILL BE FQM®
Canagold unveils antimony resource for New Polaris project in British Columbia
Ukraine, US still ironing out parts of minerals pact
Gold price hits new peak as safe-haven appeal remains strong
Global exploration budgets fall as juniors tighten belts: S&P
Indonesia minister says Freeport can resume copper concentrate exports
Alba Announces Ma’aden as a Major Shareholder
Potential US copper tariffs seen costing domestic industry dearly
Sibanye walks away from Rhyolite Ridge lithium project on weak prices
China cobalt stocks jump as Congo exports ban sparks “chaos”
The CEO of Mobarakeh Steel at the ceremony to honor and introduce the CEO of this company:
Mobarakeh Steel is shaping the popularization model of the economy
Global exploration budgets fall as juniors tighten belts: S&P
Alba wins six National Safety Council Awards
Alba Announces Ma’aden as a Major Shareholder
Ukraine, US still ironing out parts of minerals pact
Gold price hits new peak as safe-haven appeal remains strong
Ascot lines up $45M financing to reboot Premier gold mine
Potential US copper tariffs seen costing domestic industry dearly
Sibanye walks away from Rhyolite Ridge lithium project on weak prices
China cobalt stocks jump as Congo exports ban sparks “chaos”
Mobarakeh Steel is shaping the popularization model of the economy
Global exploration budgets fall as juniors tighten belts: S&P
Alba wins six National Safety Council Awards
Alba Announces Ma’aden as a Major Shareholder
Ukraine, US still ironing out parts of minerals pact
Gold price hits new peak as safe-haven appeal remains strong