DR Congo Prolongs Cobalt Export Ban by Three Months
(MENAFN) The Democratic Republic of the Congo (DRC) has prolonged its temporary ban on cobalt exports for an additional three months, attributing the extension to sustained high stockpiles both domestically and abroad.
This extension follows an initial four-month export freeze that began in February. The announcement was made on Saturday by ARECOMS, the DRC’s Regulatory and Oversight Authority for Strategic Mineral Substances Markets, which manages the trade of vital mineral resources.
Created in 2019, ARECOMS is charged with regulating strategic minerals like cobalt, coltan, and germanium. Its responsibilities include stabilizing mineral markets, formalizing the artisanal mining sector, and ensuring adherence to international anti-money laundering and counter-terrorism financing standards.
The official statement clarified that the export suspension applies to cobalt extracted from all sources—industrial, semi-industrial, small-scale, and artisanal mines—and takes effect immediately as of June 21.
ARECOMS also indicated that a new directive will be issued before the suspension expires, which could alter, prolong, or lift the export restriction depending on market conditions.
Data from London-based GlobalData, a data analytics and consulting company, forecasts the DRC’s cobalt output to reach 244 kilotonnes in 2024. As the top global cobalt supplier, the country accounts for over 80% of worldwide production.
Cobalt plays a vital role as a raw material across numerous sectors, especially in manufacturing rechargeable batteries for electric vehicles, smartphones, and other electronics. The mining activities in the DRC are mainly concentrated in the Katanga region, where both large-scale and artisanal operations coexist.
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