Jul 31 , 2009
Geovics preliminary estimate for 2009 world demand of Cobalt is 52,600 tonnes, a 13% decrease from 2008 demand. The principal factor for reduced demand is the global economic crisis in the first half of the year. On the supply side, Geovic estimates that 2009 cobalt production will fall by approximately 5% compared to 2008, to around 53,000 tonnes.
In the study undertaken by various independent bodies, actual world supply and demand data from external sources are used through 2008; whereas the projections from 2009 through 2015 are based on an 11% CAGR (principally due to the "catch-up effect" following the aforementioned significant demand decline in 2009). The combination of production from existing mines and new production is expected to yield 10% CAGR between 2008 and 2015; however, the fore mentioned demand growth is expected to yield a relatively tight supply/demand balance during that period.