5 Largest Cobalt Mining Companies and Their Mines in the World

4. CMOC Group Limited (SS:603993)

Average Annual Revenue: $21.3 billion 

CMOC Group Limited, previously known as China Molybdenum Company Limited, is Mainland China’s largest molybdenum producer and ranks among the largest cobalt mining companies. Additionally, CMOC is a leading tungsten producer, the second-largest producer of cobalt and niobium, and a significant copper producer. In the Democratic Republic of Congo, CMOC holds an 80% stake in the Tenke Fungurume Mine, acquired in 2016 for $2.65 billion.

In 2020, the company purchased a 95% stake in the Kisanfu mine in the DRC from Freeport-McMoRan Inc (NYSE:FCX) for $550 million, which produces copper and cobalt. In 2022, CMOC Group Limited successfully maintained stable production and operations, largely meeting its production targets. Notably, in the DRC, the company achieved a significant increase in cobalt production, with volumes reaching 20,286 tonnes, marking a year-on-year growth of about 10%. CMOC Group has recently resolved a 10-month-long dispute at the Tenke Fungurume mine, which had halted exports due to royalty payment issues. The company has resumed exporting copper and cobalt from its TFM mine in the DRC, as confirmed in April 2023, following the resolution of the dispute with the state miner.