Introduction: Navigating the Competitive Landscape of the Cobalt Market
Cobalt is a mineral which is a constituent of the ores of copper, zinc, lead, nickel, iron, manganese, and platinum. Its market is a changing market, and the competition is largely determined by the new technical discoveries, by the new regulations, and by the new demand of consumers for the exploitation of the ores of the metals. The monopoly of the manufacturers of the batteries, the producers of the cells, and the miners is disputed by the strategic alliances and the new products. The battery manufacturers, in order to meet the more severe regulations on the environment, are adopting a policy of the green economy. The artificial intelligence start-ups and the waste-recycling companies are reshaping the market by introducing automation and the circular economy. The market opportunities are particularly marked in the regions of Asia-Pacific and North America, where the demand for electric vehicles and for the storage of energy from the sun and the wind is growing rapidly. The strategic deployments for 2024 and 2025 will depend on the ability to respond to these technological differentiators and to exploit the changing market opportunities.
Competitive Positioning
Full-Suite Integrators
These companies offer a complete range of products and services covering the entire cobalt value chain from extraction to processing.
| Vendor | Competitive Edge | Solution Focus | Regional Focus |
|---|
| Glencore |
Global leader in diversified natural resources |
Cobalt mining and trading |
Global |
| China Molybdenum |
Strong presence in cobalt production |
Cobalt mining and refining |
China, Africa |
| Norilsk Nickel |
Integrated mining and metallurgy operations |
Cobalt and nickel production |
Russia, Global |
Specialized Technology Vendors
They develop new extraction and treatment methods for cobalt, based on their own proprietary technology.
| Vendor | Competitive Edge | Solution Focus | Regional Focus |
|---|
| Cobalt Solutions |
Advanced extraction technologies |
Cobalt processing solutions |
North America |
| Cobalt Blue Holdings |
Sustainable cobalt extraction methods |
Cobalt mining and processing |
Australia |
| Umicore |
Expertise in materials technology |
Cobalt recycling and refining |
Europe, Global |
Infrastructure & Equipment Providers
The vendors of cobalt, as a necessary part of the mining and processing of cobalt, have made available to the mines and to the factories, the necessary equipment and
| Vendor | Competitive Edge | Solution Focus | Regional Focus |
|---|
| First Cobalt |
Focus on North American supply chain |
Cobalt refining and production |
North America |
| Australian Mines |
Strong project pipeline in Australia |
Cobalt and nickel mining |
Australia |
| Lundin Mining |
Diverse mining portfolio |
Cobalt and other metals mining |
North America, South America, Europe |
| Shaanxi J&R Cobalt |
Established player in Chinese market |
Cobalt production |
China |
| Fengshun Cobalt |
Specialized in cobalt production |
Cobalt mining |
China |
| ADBRI |
Innovative construction materials |
Cobalt-related infrastructure |
Australia |
| Imperial Mining Group |
Focus on critical minerals |
Cobalt and other minerals mining |
Canada |
Emerging Players & Regional Champions
- China Molybdenum Co., Ltd., China: This company, which is mainly a cobalt producer, has recently expanded its production capacity at its Tenke Fungurume mine in the Democratic Republic of Congo. It is offering a more stable supply of cobalt and a lower price than established producers.
- Eurasian Resources Group (Kazakhstan) specializes in the extraction and processing of cobalt, and has recently signed contracts to supply cobalt to major battery manufacturers. Its vertical integration from extraction to processing allows it to compete effectively with larger players.
- Cobalt Blue Holdings, based in Australia, is an innovator in the sustainable extraction of cobalt and has just obtained funding for a pilot plant. The company’s focus on sustainable mining practices sets it apart from traditional mining companies.
- First Cobalt (Canada): It is developing a refinery in North America to meet the growing demand for cobalt for batteries. Its strategic location and its local supply chains give it a competitive edge over established global suppliers.
Regional Trends: In 2024, the trend towards African exploitation of cobalt reserves begins to take on a marked regional dimension. Moreover, the industry begins to place greater emphasis on sustainable and ethical extraction, and on the use of new technologies which limit the damage to the environment. The need for cobalt in the manufacture of batteries for electric vehicles continues to stimulate innovation and competition between the new players.
Collaborations & M&A Movements
- The two companies, in a joint venture, have been granted the concession for the new cobalt mine in the Congo. This new venture is a joint venture between Glencore and China Molybdenum. The purpose of this venture is to ensure a steady supply of cobalt for the growing market of electric cars and to increase the two companies' competitiveness in the cobalt market.
- Then in Canada, a cobalt refinery was acquired by the company, enabling it to obtain a reliable supply of cobalt for its batteries. This was to ensure the supply of this vital substance in the batteries of its electric vehicles, which are becoming increasingly popular.
- BHP and LG Chem announced a strategic partnership to develop sustainable extraction methods for cobalt, which will enable both companies to improve their environmental performance and to meet the growing trend for greener mining.
Competitive Summary Table
| Capability | Leading Players | Remarks |
|---|
| Biometric Self-Boarding |
Gemalto, Thales |
Having successfully implemented biometric solutions at several major airports, Gemalto has helped improve the flow of passengers and reduce waiting times. Thales’s advanced facial recognition systems have been successfully integrated into many international airports. |
| AI-Powered Ops Mgmt |
IBM, Siemens |
The air transport industry has already been using the Watson iQ of IBM for a long time, for the purpose of optimising flight schedules and resource allocation. The airports of Europe have already been able to observe the positive results of this development. |
| Border Control |
SITA, Vision-Box |
The SITA border control solutions, which make use of the biometric verification to accelerate the processing of passengers, have been successfully implemented in more than one hundred airports. Vision-Box is known for its eGates which have been adopted in many countries and which have been shown to enhance both security and efficiency. |
| Sustainability |
Airbus, Boeing |
Airbus is the leader in the field of sustainable aviation. Its A320neo family of aircraft, with its high-efficiency engines and alternative fuels, is a good example of this. Similarly, Boeing is committed to reducing its aircraft’s carbon footprint through new technology and sustainable practices, as shown by its ecoDemonstrator programme. |
| Passenger Experience |
Amadeus, Travelport |
The Amadeus solutions for passenger experience include a plethora of personalization and mobile solutions. Amadeus has had great success with several major carriers in deploying these solutions. Travelport's solutions are focused on the booking experience and customer engagement, and they rely on data to tailor the services. |
Conclusion: Cobalt Market: Navigating Competitive Waters
In 2024, the cobalt market will be characterised by a high level of competition and considerable fragmentation, with the market divided between the old and new players. The trend towards sustainable exploitation and responsible production will force the suppliers to adapt their strategies. In the meantime, the old players will continue to exploit their established supply chains and their established brand names, while the newcomers will focus on innovation and speed to conquer new niche markets. The market leaders will be those who can successfully combine the latest technological developments such as artificial intelligence for forecasting, automation for operational efficiency and sustainable practices. As the market develops, the ability to adapt to the requirements of consumers and to the regulatory environment will be the decisive factors in maintaining a competitive advantage.
