A Congolese ministerial committee has proposed additional measures to strengthen the temporary ban on cobalt exports, including collaboration with Indonesia, the world’s second-largest supplier of the critical battery metal.
- Cobalt prices have rebounded since the export suspension, driven by a global oversupply and weakened demand from automakers.
- The Democratic Republic of Congo proposed additional measures to strengthen the temporary ban on cobalt exports.
- One of the key proposals is to secure Indonesia’s cooperation to help regulate global cobalt supply and stabilize prices.
The Democratic Republic of Congo (DRC) plans to impose export quotas on cobalt following a four-month ban and is seeking a partnership with Indonesia, the world’s second-largest supplier of the metal, to regulate global supply and stabilize prices, according to the DRC’s prime minister.
The DRC halted cobalt shipments in late February, citing a sharp price decline driven by global oversupply and weakened demand from automakers.
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Now, the government is exploring long-term strategies to maximize the value of its cobalt resources and prevent an oversupply when the ban is lifted.
Congo seeks greater control over cobalt industry
Congo’s Economic Situation Committee, led by Prime Minister Judith Suminwa Tuluka, has recommended steps for the “efficient management” of the export suspension.
Among the key proposals is securing Indonesia’s cooperation to help regulate global cobalt supply and stabilize prices.
While Congo remains the dominant player in the cobalt market, Indonesia’s share has been rising, reaching 11% of global supply last year, according to Darton Commodities.
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In both countries, cobalt is extracted as a byproduct, alongside copper in Congo and nickel in Indonesia. Since the export suspension, cobalt prices have rebounded from their recent lows.
The committee also suggested introducing export quotas and increasing domestic processing requirements, though details were not disclosed.
The DRC government has been weighing production and export restrictions for over a year as it seeks to exert greater control over the cobalt market.
