Morocco Secures Over 90% of Cobalt Market in MENA

Rabat – Morocco has confirmed its role as a driving force in the energy and industrial transition, securing more than 90% of cobalt production and consumption across the MENA region.

The findings, published in a recent IndexBox report, show the country’s regional dominance and its growing importance for global supply chains.

A market under Morocco’s control

The report shows Morocco at the top of both consumption and production with 91% of the regional market, a figure that translates into nearly 234,000 tons. Oman ranks far behind with 23,000 tons. 

Measured per person, Morocco’s consumption stands at 6.1 kilograms, ahead of Oman’s 4.2 kilograms. These numbers reflect the country’s success in embedding cobalt into its industrial base, supported by favorable regulations and infrastructure that attract international players in the battery and green energy sectors.

Over the past decade, Morocco’s cobalt sector has grown at an average annual rate of 1.4%, reaching a market value close to $1.9 billion.

Rising imports and first steps toward exports

Morocco’s ambition extends beyond production. The country has become the largest cobalt importer in the region, with 1,200 tons in 2024, or 86% of total MENA imports. In value, imports are estimated at $4.4 million, equal to 68% of the regional share. 

The growth rate of imports, more than 28% annually over the past ten years, points to a strong domestic demand and a deliberate strategy to secure supply.

Exports remain limited at 201 kilograms in 2024, but their rapid increase, more than 80% annually since 2013, suggests the early stages of a new export capacity. Export value reached $61,000 last year, with Morocco recording one of the lowest average prices in the region.

A symbolic step forward came with the launch of the first unit dedicated to the production of materials for lithium-ion batteries at Jorf Lasfar. 

Cobalt is central to lithium-ion batteries, which power electric vehicles and allow renewable energy to be stored efficiently. By consolidating its leadership in this sector, Morocco places itself at the heart of one of the most decisive industrial shifts of the century.

Morocco’s ability to control cobalt supply and expand its industrial capacity could allow it to capture a share of this growth, while strengthening its role in international investment flows.

Morocco’s position today signals a country that seeks to transform its mineral wealth into an engine for industrial development and a key asset in the world’s transition to clean energy.