{"id":81821,"date":"2024-03-19T05:06:11","date_gmt":"2024-03-19T05:06:11","guid":{"rendered":"https:\/\/globalroadtechnology.com\/\/?p=81821"},"modified":"2024-03-19T05:06:11","modified_gmt":"2024-03-19T05:06:11","slug":"australias-cobalt-mining-industry-a-deep-dive","status":"publish","type":"post","link":"https:\/\/globalroadtechnology.com\/australias-cobalt-mining-industry-a-deep-dive\/","title":{"rendered":"Australia\u2019s Cobalt Mining Industry: A Deep Dive"},"content":{"rendered":"

As a critical mineral, cobalt is one of the keys to the exploding Electric Vehicle (EV) and electrification technology markets. <\/span>Famed for its striking blue pigment, Cobalt Blue, the \u2018Co\u2019 element has evolved from a thing of beauty to a vital technology enabler.\u00a0<\/span><\/p>\n

Australia is the fourth largest producer of cobalt, with one of the world\u2019s largest in-ground reserves and a proven mining industry set up to support it. <\/span>Perhaps surprisingly, the world\u2019s cobalt behemoth, with about 70% of the total cobalt supply, is the Democratic Republic of Congo or the DRC.<\/span><\/p>\n

The DRC exports around 130,000 tonnes of cobalt per annum, compared to Australia’s exports of just 6,000 tonnes, which gives a sense of its market dominance.<\/span><\/p>\n

Cobalt translates from German as \u2018Goblin\u2019 due to its noxious odour.\u00a0<\/span><\/h4>\n

Classified as a semi-rare metal, cobalt is almost wholly derived as a byproduct of nickel and copper mining.\u00a0<\/span>A full 98% of cobalt is produced at nickel and copper mines, which account for about 38 and 60% of global output, respectively.\u00a0<\/span><\/p>\n

Roughly 9 kilos of cobalt is needed to manufacture a lithium-ion EV battery, although some contain up to 20 kilograms.<\/span><\/h4>\n

With such a high and growing demand for the resource, many people are looking for long-term cobalt investments, for which Australian operators are in the box seat.\u00a0<\/span>Possessing 18% of global cobalt reserves while responsible for only about 3% of global cobalt output, Australia has a long cobalt runaway ahead of it.\u00a0<\/span><\/p>\n

And with endemic problems in the DRC\u2019s industry, we may be on the cusp of a cobalt boom Down Under.<\/span><\/p>\n

The Changing Face of Cobalt Mining<\/span><\/h2>\n

A cobalt powerhouse, the DRC has reigned supreme for decades, but it is facing a finite supply and international pressure regarding how it mines its resources.\u00a0<\/span>Critics of the industry highlight concerns over child labour and lax environmental standards in the African nation, which creates a less-than-ideal investment climate in today\u2019s world.<\/span><\/p>\n

Used in high technology that requires significant capital outlay and high industry standards, the DRC’s dominance may soon start to dwindle.<\/span><\/p>\n

Cobalt is vital in many alloys, including for gas turbine engines and magnets.\u00a0<\/span><\/h4>\n

It\u2019s also found in exceptionally robust cobalt alloys used to cut and drill steel, like tungsten carbide and chromium-cobalt.\u00a0<\/span>However, after transforming from cosmetic to practical uses in the early 1900s, cobalt\u2019s demand is now driven by emergent EVs and global electrification technology.\u00a0<\/span><\/p>\n

A boom that\u2019s just beginning.\u00a0<\/span><\/p>\n

Per the Australian government\u2019s Critical Minerals Strategy 2023-2030, the need for cobalt could rise 20fold by 2040.\u00a0<\/span><\/h4>\n

And while prices in early 2024 remain deflated, the future of Australia’s cobalt mining industry looks rosy. <\/span>Australia is positioning itself as a significant world player with the potential to scale up its cobalt production slowly and sustainably.\u00a0<\/span><\/p>\n

One key to Australia’s success in its critical minerals portfolio is the ability to value-add or refine resources rather than simply shipping them in dry bulk. <\/span>This approach also applies to cobalt, with many of Australia\u2019s premier miners and producers looking to enter the market further downstream with improved products.\u00a0<\/span><\/p>\n

But who are these players, and what\u2019s the state of the local industry?\u00a0<\/span><\/p>\n

Exploring Australian Cobalt Operators<\/span><\/h2>\n

According to the latest research, Australia has about 70 cobalt-focused projects. <\/span><\/p>\n

Here are some of the most notable Australian cobalt mining players and projects at a glance:<\/span><\/p>\n

    \n
  1. Glencore<\/span><\/strong><\/li>\n<\/ol>\n

    Mining major Glencore owns the most extensive operation, the Murrin Murrin nickel-cobalt mine in the Northeastern Goldfields region of Western Australia. <\/span>Murrin Murrin employs conventional open-pit mining to extract resources, processing and refining cobalt ore on-site while providing over half of Australia’s total production.\u00a0<\/span><\/p>\n

    A global company, Glencore produces around 22,000 tonnes of cobalt annually across its worldwide operations, including those in the DRC. It also processes and recycles cobalt-containing materials.<\/span><\/p>\n

      \n
    1. Cobalt Blue<\/span><\/strong><\/li>\n<\/ol>\n

      Cobalt Blue Holdings owns the Broken Hill project in New South Wales, which strongly emphasises cobalt produced directly on-site rather than extracted as a nickel by-product. <\/span>New South Wales’ Critical Minerals and High-tech Metals Strategy promotes exploring and developing \u201ccritical minerals,\u201d including cobalt.<\/span><\/p>\n

      Cobalt Blue is also in the process of planning a strategically important Kwinana, Western Australia, cobalt-nickel refinery with a capacity of 3,000 tonnes per year of cobalt sulphate and 1,000 tonnes of nickel sulphate.\u00a0<\/span><\/p>\n

        \n
      1. Ardea Resources<\/span><\/strong><\/li>\n<\/ol>\n

        Ardea Resources is attractive due to its wholly owned Kalgoorlie nickel project, which, according to the company, \u201chosts the largest nickel-cobalt resource in the developed world.\u201d\u00a0<\/span><\/p>\n

        The project includes the Goongarrie Hub deposit, with an estimated ore reserve of 99,000 tonnes of contained cobalt and 1.36 million tonnes of contained nickel.\u00a0<\/span>This resource would support open-pit mining with a 40-year mine life and annual output of 2,000 tonnes of cobalt and 30,000 tonnes of nickel.<\/span><\/p>\n

        Summary and the Outlook for Australian Cobalt Miners<\/span><\/h2>\n

        As we\u2019ve seen, the cobalt element has had many uses and even reinventions since its introduction as a prized pigment. <\/span>Initially disregarded as a stinky \u2018Goblin\u2019 by miners searching for gold and silver, \u2018Co\u2019 has risen to become one of the world\u2019s most crucial resources in the energy transition.<\/span><\/p>\n

        While the price of cobalt, alongside many other critical minerals including lithium, undergoes a \u2018price correction\u2019 the predictions are that future demand will be high, very high.\u00a0<\/span>This makes Australia a prime candidate as a premier cobalt supplier, based on its existing mining network and the DRC\u2019s eventual decline as a producer.\u00a0<\/span><\/p>\n

        However, more must be done to ensure that the industry is profitable by adding value and refining cobalt where possible to upgrade the product offerings. <\/span>With the right strategy, Australia\u2019s current and prospective cobalt miners are in a position to enjoy the element\u2019s rise as the years progress and electrified technology develop.\u00a0<\/span><\/p>\n

         <\/p>\n

        Dust suppression is a critical issue in the world of mining and resources.<\/strong><\/p>\n

        Learn more about GRT\u2019s industry-leading and IoT-connected\u00a0SMART Dosing Units<\/a>, and discover how we\u2019re driving better dust suppression solutions for all!<\/strong><\/p>\n

        If you\u2019d like to talk with an expert, simply\u00a0contact us<\/a>!<\/strong><\/p>\n

        Your feedback is important to us.\u00a0<\/strong><\/p>\n

        If you enjoyed reading this Global Road Technology industry update and found it informative, please let us know by leaving a\u00a0REVIEW<\/a><\/strong><\/p>\n

         <\/p>\n

        References:<\/span><\/h3>\n

        https:\/\/investingnews.com\/cobalt-in-australia\/<\/span><\/a><\/p>\n

        https:\/\/investingnews.com\/biggest-cobalt-stocks-asx\/<\/span><\/a><\/p>\n

        https:\/\/www.mining.com\/web\/miners-find-out-the-hard-way-why-cobalt-is-called-the-goblin\/<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

        As a critical mineral, cobalt is one of the keys to the exploding Electric Vehicle (EV) and electrification technology markets. […]<\/p>\n","protected":false},"author":5,"featured_media":81104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[],"class_list":["post-81821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-articles"],"yoast_head":"\nAustralian Cobalt Mining Industry: Australia's Cobalt Landscape<\/title>\n<meta name=\"description\" content=\"Explore the Australian cobalt mining industry, key players like Glencore & Ardea Resources, and the future outlook for the sector\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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