The Global EV Battery Grade Cobalt and Nickel Market was valued at USD 12.48 Billion in 2023 and is projected to reach USD 52.71 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 22.9% during the forecast period (2024–2030). This explosive growth is propelled by the global transition to electric vehicles, escalating demand for high-energy-density battery chemistries, and major government initiatives supporting clean energy infrastructure.

As the automotive industry undergoes its most significant transformation in a century, the spotlight falls on the critical mineral suppliers who are enabling the shift to electrification. In this blog, we profile the Top 10 Companies in the EV Battery Grade Cobalt and Nickel Industry—a powerful mix of mining giants, refined metal producers, and recycling pioneers shaping the future of sustainable transportation.

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🔟 1. MMC Norilsk Nickel (Nornickel)

Headquarters: Moscow, Russia
Key Offering: High-purity Nickel, Cobalt, and Platinum Group Metals

Nornickel is one of the world’s largest producers of refined nickel and a significant producer of cobalt. Its products are essential for manufacturing NMC (Nickel Manganese Cobalt) and NCA (Nickel Cobalt Aluminum) lithium-ion batteries used in a majority of electric vehicles. The company has a strong focus on supplying the European and Asian battery markets.

Sustainability and Expansion Initiatives:

• Major investments in sulfur dioxide capture and environmental modernization at its polar division.

• Long-term supply agreements with leading European and Asian battery manufacturers.

• Exploring new mining projects to expand output for the EV sector.

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Global EV Battery Grade Cobalt and Nickel Market – View in Detailed Research Report

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9️⃣ 2. Glencore plc

Headquarters: Baar, Switzerland
Key Offering: Cobalt hydroxide, Class 1 Nickel

Glencore is a dominant force in the cobalt market, with significant production from its operations in the Democratic Republic of Congo (DRC). The company is also a major producer of nickel, positioning it as a key supplier of both critical battery metals. Glencore’s integrated supply chain ensures a steady flow of materials to battery cell producers worldwide.

Sustainability and Expansion Initiatives:

• Commitment to responsible sourcing through adherence to the Responsible Minerals Initiative (RMI).

• Multi-year offtake agreements with automakers and battery giants like Tesla and Samsung SDI.

• Investing in recycling technologies to create a circular economy for battery metals.

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8️⃣ 3. Umicore

Headquarters: Brussels, Belgium
Key Offering: Precursor Cathode Active Materials (pCAM), Battery Recycling

Umicore is a global materials technology and recycling group. It is a leader in producing high-performance cathode materials, which are the most valuable component of a lithium-ion battery. Umicore’s closed-loop recycling model is a key differentiator, allowing it to recover cobalt, nickel, and lithium from end-of-life batteries.

Sustainability and Expansion Initiatives:

• Pioneering a circular business model with its “close the loop” approach.

• Expanding production capacity for cathode materials in Europe and Asia to meet soaring demand.

• Focus on developing higher-nickel, lower-cobalt cathode chemistries for increased energy density.

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7️⃣ 4. Vale S.A.

Headquarters: Rio de Janeiro, Brazil
Key Offering: Class 1 Nickel, Nickel Sulphate

Vale is one of the world’s largest nickel producers. The company is strategically pivoting its nickel business to serve the EV battery market, investing heavily in converting its Class 1 nickel into high-purity nickel sulphate, a direct input for battery precursors. Its base metals division is central to its energy transition strategy.

Sustainability and Expansion Initiatives:

• Significant capital allocation to expand nickel sulphate production capacity in Canada.

• Commitment to achieving net-zero Scope 1 and 2 emissions by 2050.

• Strategic partnerships with North American and European battery makers to secure supply chains.

Download FREE Sample Report:
Global EV Battery Grade Cobalt and Nickel Market – View in Detailed Research Report

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6️⃣ 5. Sumitomo Metal Mining Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: NCA Cathode Materials, Nickel Sulphate

Sumitomo Metal Mining (SMM) is a key supplier of nickel-cobalt-aluminum (NCA) cathode materials, famously used in Tesla’s electric vehicles. The company operates a vertically integrated model, from nickel mining and refining to the production of high-value cathode materials, ensuring stringent quality control for battery-grade products.

Sustainability and Expansion Initiatives:

• Aggressive expansion of cathode material production capacity in Japan and the Philippines.

• Development of high-capacity, cobalt-reduced NCA materials to lower costs and improve sustainability.

• Investment in research for next-generation solid-state battery materials.

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5️⃣ 6. China Molybdenum Co., Ltd. (CMOC)

Headquarters: Luoyang, China
Key Offering: Cobalt, Tungsten, Molybdenum

Through its ownership of the Tenke Fungurume mine in the DRC, CMOC has become the world’s second-largest producer of cobalt. The company plays a crucial role in supplying the Chinese battery industry, which dominates global EV production. Its scale and integration make it a critical link in the global cobalt supply chain.

Sustainability and Expansion Initiatives:

• Expanding production at the Tenke Fungurume mine to capitalize on rising cobalt demand.

• Implementing responsible sourcing standards and community development programs in the DRC.

• Strengthening partnerships with major Chinese cathode and battery manufacturers.

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4️⃣ 7. BHP Group

Headquarters: Melbourne, Australia
Key Offering: Nickel Sulphide, Nickel West

BHP, a world-leading resources company, is leveraging its Nickel West operation in Western Australia to become a major supplier to the EV battery market. The operation is one of the most integrated nickel value chains globally, from mining concentrates to producing nickel sulphate for batteries.

Sustainability and Expansion Initiatives:

• Converting the Kwinana NiRef refinery to produce nickel sulphate for the battery sector.

• Securing long-term supply agreements with Tesla and other EV manufacturers.

• Investing in exploration to extend the life of its nickel sulphide assets.

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3️⃣ 8. Huayou Cobalt

Headquarters: Tongxiang, China
Key Offering: Cobalt Products, Nickel Products, Precursor Materials

Huayou Cobalt is a Chinese leader in the cobalt industry and a rapidly growing force in nickel. The company has built a formidable integrated supply chain, from raw material sourcing in the DRC and Indonesia to the production of precursor and cathode materials for lithium-ion batteries.

Sustainability and Expansion Initiatives:

• Massive investment in high-pressure acid leaching (HPAL) projects in Indonesia for nickel and cobalt production.

• Establishing joint ventures with major players like LG Chem and POSCO.

• Building a closed-loop battery recycling system to complement primary production.

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2️⃣ 9. Eramet

Headquarters: Paris, France
Key Offering: Nickel, Manganese, Lithium

Eramet, a French mining and metallurgical group, is executing a strategic shift towards energy transition metals. Its subsidiary, Société Le Nickel (SLN) in New Caledonia, and its ongoing Weda Bay nickel project in Indonesia position it as a significant future supplier of battery-grade nickel to the European market.

Sustainability and Expansion Initiatives:

• Developing the Centrale Electrique du Sud (CES) project in New Caledonia to reduce the carbon footprint of its nickel production.

• Expansion of the Weda Bay nickel mine in Indonesia, one of the world’s largest nickel deposits.

• Partnering with BASF to assess the development of a nickel-cobalt refining complex to supply the European battery market.

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1️⃣ 10. GEM Co., Ltd.

Headquarters: Shenzhen, China
Key Offering: Battery Materials, Cobalt Products, Battery Recycling

GEM is a pioneer in the circular economy for new energy materials. It is one of the world’s largest producers of ternary precursor materials and a global leader in recycling spent lithium-ion batteries to recover cobalt, nickel, lithium, and other valuable metals.

Sustainability and Expansion Initiatives:

• Global leader in battery recycling, with partnerships with over 280 battery and vehicle manufacturers.

• Massive expansion of precursor and cathode material production capacity in China and Indonesia.

• Focus on creating a “mine-in-the-city” model through large-scale urban mining and recycling.

Get Full Report Here:
Global EV Battery Grade Cobalt and Nickel Market – View in Detailed Research Report

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🌍 Outlook: The Future of EV Battery Metals is Sustainable and Strategic

The EV battery grade cobalt and nickel market is at the heart of the global energy transition. While demand is set to skyrocket, the industry is rapidly evolving to address critical challenges related to supply security, cost, and environmental impact.

📈 Key Trends Shaping the Market:

• Accelerated investment in high-pressure acid leaching (HPAL) projects in Indonesia to unlock laterite nickel ore for batteries.

• A strong regulatory push for localized and resilient supply chains in North America and Europe, reducing dependency on dominant producing regions.

• The rapid scaling of advanced battery recycling infrastructure to create a circular economy and secondary supply source.

• Continuous R&D into new battery chemistries (like LMFP, Sodium-ion) and the reduction of cobalt content to mitigate supply and cost risks.

Get Full Report Here:
Global EV Battery Grade Cobalt and Nickel Market – View in Detailed Research Report

The companies listed above are not just supplying critical minerals—they are building the foundation for a sustainable electric future.