Chart of the week: Cobalt mining in the DRC fuelling tech and conflict

In the past week, more than 733 people have lost their lives in escalating violence in the DRC. Much of it is being driven by control over key mines producing cobalt and other rare minerals

Inside every smartphone, laptop, and electric vehicle is cobalt, a mineral essential for lithium-ion batteries. About 70 per cent of the world’s cobalt comes from a single country, the Democratic Republic of Congo, making it the backbone of the global tech industry. In 2023, the DRC produced nearly three-quarters of the world’s cobalt supply.

The country is also rich in coltan, another essential mineral mined for similar technology, mostly rechargeable batteries. Other crucial minerals include gold, tin, uranium, bismuth, and beryllium – resources that have historically attracted foreign powers and corporations looking to cash in. However, instead of bringing prosperity, these riches have fuelled endless cycles of conflict and exploitation for the Congolese people.

In just the past week, more than 733 people have lost their lives in escalating violence in the DRC. This latest surge in fighting is fuelled by the long struggle over the country's vast mineral wealth and strategic mines. Despite being one of the richest nations on Earth in terms of natural resources, the DRC's people remain among the poorest.

At the heart of the global cobalt trade is China’s CMOC Group, which set a record in annual cobalt production last year. The company announced on Monday that it had produced 114,165 tonnes in 2024 – more than double the 55,526 tonnes recorded in 2023. The figure also exceeded its 2024 estimate, which had initially been capped at 70,000 tonnes. This rapid surge in production has been driven by the expansion of CMOC's African mining operations, much of which remain in the DRC, highlighting the region's dominance in the cobalt market.

But it's not just China; numerous multinational corporations operate directly or indirectly in the DRC via third-party contractors. Many of them have been accused of child labour. About 40,000 children work in dangerous artisanal mines across the country, extracting gold, cobalt, and coltan in hazardous conditions. Many of them suffer from injuries, exposure to toxic chemicals and even death.

While mining operations continue to expand, many in the DRC say the recent violence is being led by the Rwandan-backed M23 rebel group, which wants to cash in on mining profits. The M23 group has taken control of Goma, the capital of North Kivu province, for the first time since 2012. They’re moving south towards Bukavu, another key city in a region with valuable resources and key mines.