5 Largest Cobalt Mining Companies and Their Mines in the World

3. Vale S.A. (NYSE:VALE)

Average Annual Revenue: $47.8 billion

Vale S.A. (NYSE:VALE) is a major producer and exporter of various minerals, including iron ore, pellets, nickel, manganese ore, copper, ferroalloys, coal, and, notably, cobalt. The company also produces platinum-group metals (PGMs) and precious metals like gold and silver. In cobalt mining, Vale’s operations are particularly significant in Canada. In 2022, Vale S.A. produced a total of 2,434 metric tons of cobalt, primarily sourced from its nickel mines in Sudbury, Thompson, and Voisey’s Bay.

The Voisey’s Bay cobalt project in Labrador, which commenced operations in 2005, is noteworthy for its fly-in/fly-out operation model (used in remote mining locations where workers are flown into the mine site for their work period and then flown out to their home). Therefore, this model requires extensive infrastructure to support the mine and its workers. Vale S.A. (NYSE:VALE) has also established positive relationships with local Indigenous communities, implementing employment commitments. Employing around 500 people, Voisey’s Bay is currently undergoing an expansion to include underground mining, a development expected to increase employment.