The Democratic Republic of Congo (DRC), the world’s largest supplier of cobalt, has extended its export ban on the critical battery metal for an additional three months. The extension was confirmed by the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS) over the weekend, as reported by Reuters.
The export ban, initially introduced in February for four months following a sharp price decline to a nine-year low of $10 per pound, will now remain in effect until September. ARECOMS cited continued market oversupply and high stockpiles as reasons for the extension. A further decision on whether to lift, modify, or prolong the suspension is expected before the end of this new period.
In response to ongoing market challenges, Congolese authorities are also considering the implementation of export quotas for cobalt among mining companies. While Glencore, the world’s second-largest cobalt producer, has expressed support for the quota proposal, CMOC Group—the largest producer—has called for the ban to be lifted entirely.
In a separate development, a coltan mine collapse in Rubaya, located in DRC’s North Kivu province, has resulted in at least 12 fatalities, according to another Reuters report. Several miners reportedly escaped, though the cause of the collapse remains under investigation.
Rubaya’s artisanal mines produce about one-sixth of the world’s coltan, a vital ore used in smartphones and other electronics. The region has been under the control of M23 rebels since mid-2024, who have imposed a 15% tax on coltan production, according to rebel officials.
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