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The Democratic Republic of Congo (DRC) is expected to announce by September 21, 2025, whether it will continue, revise, or lift its ongoing ban on cobalt exports, a decision that could significantly influence global markets.
By Ryan Chigoche
The restriction, introduced on February 22, 2025, by the Regulatory and Control Authority for Strategic Mineral Substances Markets (ARECOMS), initially halted exports of cobalt hydroxides, carbonates, white alloys, and copper-cobalt concentrates for four months.
The suspension applied to all operators—industrial, semi-industrial, and artisanal—and was later extended by three months due to large global stockpiles.
Signed by ARECOMS Director General Patrick Mpoyi Luabeya, the measure aimed to curb excess supply and stabilize cobalt prices, which had fallen to record lows of US$21,000–US$22,000 per tonne.
A commission under ARECOMS is currently reviewing the ban’s impact to determine whether it should be maintained, modified, or lifted.
Meanwhile, the suspension has caused disruptions across the Congolese mining sector. Glencore, one of the country’s major producers, has warned of potentially significant unsold stockpiles by year-end as production continues to accumulate domestically. While prior inventories offer some financial cushioning, operators are facing heightened regulatory uncertainty.
Proposals to replace the ban with export quotas have also sparked debate. Questions about fair allocation, enforcement, and operational transparency have emerged, highlighting the challenge of balancing domestic interests with international demand.
Initially, the ban caused a temporary spike in cobalt prices, especially in China. However, global reserves, estimated by Benchmark Mineral Intelligence to cover eight to ten months of consumption, have largely absorbed the supply shock, tempering market reactions.
The policy has divided major producers. Glencore supports a quota system, while CMOC, the world’s largest cobalt producer, favors a full lifting of the ban.
The DRC holds approximately 70% of the world’s cobalt reserves, underscoring its strategic importance in the global market. Decisions made by Congolese authorities regarding export policy will therefore have far-reaching implications for international supply chains and the transition to low-carbon technologies.
