Congo extends cobalt export ban

Published at: 22/06/2025 11:29 PM

Authorities in the Democratic Republic of Congo (DRC) have announced a three-month extension to the temporary ban on the export of cobalt, a measure introduced last February. The decision seeks to “equate supply with global demand”, after this strategic metal reached its lowest price in nine years.

The Authority for the Regulation and Control of Markets for Strategic Mineral Substances (ARECOMS) reported that the extension is due to the “continued high level of stocks in the market”.

The DRC, which supplies approximately 75% of the world's cobalt for electric vehicle batteries, instituted the initial four-month suspension on February 22, when the reference price of cobalt fell below $10 per pound, a value not seen in more than two decades.

The Congolese Government seeks to strengthen its control over prices and adjust supply to the needs of the global market. ARECOMS indicated that, before the end of this new extension, a decision will be announced that “will modify, extend or end this temporary suspension.” The DRC is also considering applying export quotas to encourage domestic metal processing.

However, experts have warned that too strict intervention and an increase in the price of cobalt could accelerate the transition of manufacturers to batteries for electric vehicles that do not depend on this resource. The fall in prices occurred in a context of increased supply, mainly driven by the increased production of CMOC Group Ltd. in two large Congolese fields.

Mazo News Team/TELESUR