Exporters breaching DRC cobalt quotas face permanent ban, warns Tshisekedi

Permanent Ban for Cobalt Quota Violations in the DRC

The Democratic Republic of the Congo (DRC), the leading global producer of cobalt, has announced that exporters who infringe upon the newly established quota system will face a permanent ban. This system, set to be implemented on Mon, Oct 16, 2023, is based on historical export data.

Earlier this year, the DRC halted all cobalt exports as prices reached unprecedented lows. Under the new regulations, miners are authorized to export slightly more than 18,000 tonnes of cobalt for the remainder of this year. The annual export limits are set to exceed 96,000 tonnes for both 2026 and 2027.

The implementation of the quota system is intended as a strategic measure to stabilize the market, following a significant 92 percent increase in cobalt prices since March, attributed to an eight-month export suspension. The DRC government has emphasized its commitment to enforcing strict penalties on those who breach these regulations.

Meanwhile, the DRC continues to experience escalating violence in its eastern regions, involving confrontations between the Congolese armed forces and M23 fighters backed by Rwanda, despite ongoing international mediation efforts.

Based on reporting by Africanews.