offtake · non-aligned supply brief

Cobalt (Co)

battery · criticality 9/10 · substitutability: limited

MOS Rank

#31

score 17.9 · conf 57%

Published 2026-04-17 · Mineral Opportunity Score ranks all 58 tracked minerals by broker profitability.

Why this week

  • —Liquid exchange — low broker spread
  • —Concentrated market, few brokers

Supply concentration

6% of global production is in China + Russia

HHI 5400

China 2% · Russia 4%Non-aligned 94%

Top producers

  • DRC73%
  • Indonesia5%
  • Russia4%
  • Australia3%
  • Philippines3%

Non-aligned producers (1 tracked)

AssetOperatorCountryCapacity tpaStatus
MutandaGlencoreCD25,000operating

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