Cobalt is a hard, lustrous, grey metal that is used in the production of high temperature, wear resistant super alloys, catalysts, paint dryers, cemented carbides, magnetic alloys, pigments, rechargeable batteries and chemicals.
The Moa Joint Venture’s finished cobalt (briquettes and powder) at 99.9% purity, exceeds the LME cobalt specification. In 2019, it supplied 3,376 tonnes (100% basis) or approximately 2.5% of world primary cobalt and was the 4th largest producer of refined cobalt metal and powder (100% basis).
Over the last decade, growth in the chemical sector, primarily in battery chemicals, has increased the demand for cobalt. The rapidly emerging EV (Electric Vehicle) market, as well as the world’s reliance on global communications in the form of mobile phones and tablet technology has been a driving force for increased cobalt consumption. Strong recovery from the superalloy sector has also helped the market remain in relative balance. Over the long term, positive growth is expected in the rechargeable battery sector (hybrid and electric vehicle applications).