Oversupply Forces Congo to Suspend Cobalt Exports

February 26, 2025

(3 Minutes Read)

The Democratic Republic of Congo, the world’s leading producer of cobalt, announced that it has temporarily halted exports of the metal due to an oversupply in the global market.

The ban applies to all cobalt produced in the country, including by small-scale or artisanal miners, and may be reviewed or lifted after three months. Congo is the world’s second-largest producer of copper, making it a key player in the global metals market.

The ban, which will last for at least four months, was issued by the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS). This measure is intended to regulate supply on the international market, which is currently experiencing a production glut, said ARECOMS President Patrick Luabeya.

To ensure compliance, ARECOMS issued a decree enforcing the ban, signed by Luabeya and co-signed by Mines Minister Kizito Pakabomba. The export restriction, which applies to all cobalt produced in the country, including by small-scale or artisanal miners, took effect on February 22 and may be reviewed or lifted after three months. Cobalt, a critical component in electric vehicles and mobile phone batteries has faced a steep price decline due to a surge in supply and waning demand.