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Miners will be able to ship just over 18,000 tons of cobalt for the rest of this year, with annual caps of just over 96,000 tons for 2026 and 2027.
Exports who violate the new quota system on cobalt from Democratic Republic of Congo will be permanently banned, according to a warning issued by Democratic Republic of the Congo, President Félix Tshisekedi has warned.
The DRC is the world’s top producer of the metal, which is critical to the manufacture of electric batteries. In February, Kinshasa blocked all exports as prices hit a record low. Last month, it announced a new quota system based on historical exports and due to come into effect on October 16. Miners will be able to ship just over 18,000 tons of cobalt for the rest of this year, with annual caps of just over 96,000 tons for 2026 and 2027.
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Tshisekedi reportedly told his cabinet on Friday that he would apply “exemplary sanctions” to anyone violating the new rules. He said the new system would be an effective lever to influence the market after years of “predatory strategies.” The eight-month export freeze helped drive a 92 percent rebound in the price of cobalt since March.
