How much of the global supply of lithium, cobalt, and nickel is controlled by Venezuela?
Executive summary
Available reporting and datasets do not show Venezuela as a major controller of the global lithium, cobalt or nickel supply chains; the largest lithium reserves are in the “Lithium Triangle” (Bolivia, Chile, Argentina) and Australia [1] [2], while long‑term supply and refining are concentrated in other countries and China [3]. Several market and consultancy pieces note Venezuela has cobalt resources and potential, but they do not quantify a controlling share of global cobalt or nickel production or reserves [4] [5] [6].
1. Venezuela’s role: mineral potential, not market control
Multiple market summaries and country overviews describe Venezuela as possessing mineral resources, including cobalt and other metals, but they stop short of saying the country controls a large share of global lithium, cobalt or nickel supplies; industry reports and reserve rankings instead highlight other nations as dominant for lithium in particular [7] [4] [5] [6] [1].
2. Lithium: reserves and producers are elsewhere
Global data and recent summaries identify Bolivia, Chile, Argentina and Australia as the countries with the largest lithium reserves and production importance; statistical compilations based on USGS reserves data and investment coverage list Chile and Bolivia among the leaders and show Australia and China as major producers/refiners — not Venezuela [2] [1] [8]. Sources emphasise Latin America’s “Lithium Triangle” as holding most reserves [1] [9].
3. Cobalt: Venezuela mentioned, but global supply dominated elsewhere
Industry analyses and market research note Venezuela has cobalt reserves and a domestic market outlook for cobalt oxides and salts, but authoritative global cobalt reporting and USGS‑style summaries (as cited in the cobalt market literature) emphasise other producing countries and established supply chains; the cited cobalt market and USGS summaries do not attribute a controlling global share to Venezuela [10] [11] [12] [4] [5].
4. Nickel: not identified as Venezuela’s strong suit in these sources
The provided sources on global nickel outlook and refining concentration focus on countries such as Indonesia and major miners elsewhere; IEA analysis flags Indonesia as a major future nickel supplier and notes refining concentration, with no source here listing Venezuela among the top nickel controllers [3]. Available sources do not mention Venezuela controlling a significant slice of global nickel supply.
5. Global supply concentration and refining: China and Indonesia dominate narratives
The IEA’s Global Critical Minerals Outlook and related analyses show that refined supply (and hence market power) for battery minerals is heavily concentrated in a few countries — China for refined lithium and cobalt, Indonesia for nickel — again without naming Venezuela as a dominant controller [3] [13]. This matters because reserves alone do not equal market control; refining and production capacity determine who actually supplies the market [3].
6. Where reporting hints at Venezuelan opportunity — and its limits
Market research firms highlight Venezuela’s cobalt resource potential and outline domestic market opportunities for cobalt chemicals and oxides, but those same vendor reports flag practical constraints — lack of investment, infrastructure challenges, trade and sanction risks — that limit Venezuela’s ability to convert reserves into global market share [4] [5] [6]. These caveats explain why having resources does not translate into controlling global supply.
7. What the sources do not say — and why that matters
None of the supplied sources provide a numeric percentage of global lithium, cobalt or nickel “controlled by Venezuela.” Reserve and market reports list top countries and trends; they do not quantify Venezuela’s share as controlling any of these markets [2] [1] [8] [10] [11] [12] [3]. Therefore any precise percentage claim about Venezuelan control is not supported in the current reporting.
8. Bottom line for readers and policymakers
Based on available sources, Venezuela is a country with mineral potential — particularly noted in some market reports for cobalt — but it is not documented in these sources as controlling a meaningful share of global lithium, cobalt or nickel supplies; dominant roles are repeatedly attributed to the Lithium Triangle countries, Australia, Indonesia and to refined suppliers such as China [1] [2] [3] [13]. If you need exact share figures for policy or investment decisions, the sources here do not provide them, and you should consult primary reserve and production datasets (USGS/IEA/benchmark reports) or targeted country production statistics.