China-based Zhejiang Huayou Cobalt produced an estimated 5,390 MT of cobalt in 2021. The company has three business divisions: the research, development and manufacturing of new energy lithium battery materials and cobalt new material products; the deep processing of cobalt and nickel new material products; and the mining, selection and primary processing of non-ferrous metals, such as cobalt, nickel and copper.
Zhejiang Huayou Cobalt has partnered with EV battery maker EVE Energy (300014.SH) and others to build a US$2.08 billion nickel and cobalt smelting project in Indonesia.