1. Home
  2. Energy economics
  3. Statistical Review of World Energy
  4. Key minerals

Key minerals

Lithium carbonate prices continued their steep reduction, with cobalt prices stabilising somewhat (falling just 5% after a 54% drop in 2019)
Electric car lithium battery pack and power connections

Lithium production fell 4.6% on a drop in Australian output, while Cobalt output rose 2.9% as ‎production in the Democratic Republic of Congo partially recovered from its dip in 2019.‎

 

Rare earth metals production expanded by 23.2%, driven by strong growth in Australia and the US.‎


Prices for cobalt and lithium carbonate both fell (by 5% and 40% respectively) to their lowest levels ‎since 2016.‎

Cobalt prices (thousands of $ per tonne*)
Cobalt prices (thousands of $ per tonne)
* 2000-2012 spot grade for cathodes, source US Geological Survey. Data from 2013 onwards: min purity 99.8%, source London Metal Exchange.
Lithium carbonate prices (thousands of $ per tonne)
Lithium carbonate prices (thousands of $ per tonne)
† 2 000-2008 unit value, data series 140, source US Geological Survey. Data from 2009 onwards: FOB South America, source Benchmark Mineral Intelligence.