The global supply of cobalt ore was highly dependent on the Congo (Kinshasa). In 2022, Congo (Kinshasa)’s production accounted for about 72% of the world’s output, with the main focusing on mining high-grade copper cobalt ore in the open air. After 2020, the production of cobalt from intermediate products in Indonesia’s nickel hydrometallurgy continued to increase, accounting for 6% in 2022. The global cobalt consumption structure is mainly in the fields of batteries and high-temperature alloys, with a combined production of about 83% in 2022. According to our prediction, the global demand for cobalt will reach 249500 tons by 2030, and after 2023, the global supply of cobalt ore will reach over 250000 tons. In the future, the global supply of cobalt ore will be able to meet consumers’ demand.