Democratic Republic of Congo resumes cobalt exports after 10-month ban

Regulation: Resumption of Cobalt Exports from the Democratic Republic of Congo

The Democratic Republic of Congo (DRC) has recommenced cobalt exports following a 10-month cessation, as announced by the country's finance minister on Tue, Jun 22, 2025.

The export suspension, initiated in February, was originally set for a four-month duration. It aimed to stabilize the market and address declining prices caused by global oversupply, according to the government.

Market Impact and Production Statistics

The DRC is a leading global producer of cobalt, accounting for 76% of worldwide production in 2024, equivalent to approximately 220,000 tons, as per the US Geological Survey. Cobalt is critical for the production of lithium-ion batteries, which are utilized in smartphones and electric vehicles.

Government Strategy and Economic Implications

Finance Minister Doudou Fwamba explained that the export ban was intended to ensure "national sovereignty over raw materials." He highlighted the DRC's desire to influence price formation as the major supplier of this strategic resource.

The suspension led to a loss in fiscal revenue due to declining cobalt prices, exacerbated by extensive cobalt mining activities in the DRC by Chinese companies, notably CMOC, which operates the Tenke Fungurume and Kisanfu mines.

The government's strategy reportedly succeeded, with cobalt prices increasing from $22,000 per ton to approximately $54,000 to $55,000 per ton.

Geographical and Strategic Considerations

Cobalt extraction predominantly occurs in the southeastern Katanga province. This region is economically significant to the DRC and has largely avoided the ongoing conflicts in North Kivu and South Kivu provinces.

For further details, please refer to the original announcement .

Based on reporting by Africanews.