Rising commodity prices in 2021 boosted revenue growth to afford Glencore a 43% year-over-year sales increase to $204 billion for 2021 - even as traded commodity volumes declined. Glencore produces cobalt mainly from its African copper assets in DR Congo. Glencore’s cobalt production was 27,400 tonnes in 2020. The company’s cobalt production increased by 14% year-over-year to 31,300 tonnes for 2021, or about 18% of global cobalt mine production for the past year. Global mining and commodities trading giant Glencore is the largest primary producer of cobalt in the world today. GLNCY stock: the Glencore sign outside a building Secondly, most of the global production of cobalt comes from just one country, the Democratic Republic of Congo. Firstly, as cobalt is mainly a by-product other metals mining, finding a pure-play cobalt stock is a tough challenge. Investing in cobalt stocks remains a tricky challenge for two important reasons. Recycling is already an important source of battery-grade cobalt supply, and efforts to remove cobalt from the battery won’t eliminate its growing demand either. Unlike manganese, copper and nickel which have relatively more abundant reserves, cobalt is usually a by-product of nickel and copper mining that is so rare that its annual production is estimated to fall behind industrial demand by 2025. Cobalt prices rallied 118% in 2021 and some of the cobalt stocks to buy on our list today could soar as increasing government support globally pushes EV production higher and battery manufacturers scramble for lithium-ion battery materials.

Rarity and scarcity could be the best attributes for cobalt - one of the key lithium-ion battery minerals needed to power the booming electric vehicle (EV) industry.

(OTCMKTS: SHERF):Rising cobalt and nickel prices could drive strong revenue growth this yearĮlectra Battery Materials (OTCMKTS: ELBMF): Canada-based cobalt-refining and recycling project could commence production and start generating revenue by the end of 2022Ĭanada Nickel Company (OTCMKTS: CNIKF): A speculative play on cobalt upside in an investor-friendly mining jurisdiction Panoramic Resources (OTCMKTS: PANRF): Recently restarted cobalt, nickel and copper production Wheaton Precious Metals (NYSE: WPM): A precious metals streaming giant with growing cobalt exposure Jervois Global (OTCMKTS: JRVMF): Recently acquired Freeport Cobalt Oy asset transforms Jervois into the second-largest producer of refined cobalt outside China Glencore (OTCMKTS: GLNCY): Largest global cobalt producer with double-digit production growth rates and a 3.9% dividend yield

Cobalt mining stocks