Morocco Leads Cobalt Consumption in the Middle East and North Africa
A recent report from the Indexbox platform confirms that Morocco ranked first regionally in cobalt consumption during 2024, accounting for 91% of the total consumption in the Middle East and North Africa.
According to the data, Morocco’s consumption reached 234,000 tons, significantly ahead of Oman, which placed second with only 23,000 tons. Additionally, Morocco recorded an annual growth rate of 1.4% in consumption from 2013 to 2024.
In terms of value, Morocco also maintained its leadership, with a consumption value of $1.9 billion, compared to $525 million for Oman. The per capita cobalt consumption was highest in Morocco at 6.1 kilograms per person, followed by Oman at 4.2 kilograms.
The report also noted that cobalt production in the region remained steady at 256,000 tons during 2024, with a total value reaching $2.5 billion, marking an annual growth rate of 1.5% between 2013 and 2024.
