The government of the Democratic Republic of Congo (DRC) announced plans to permanently ban cobalt exporters who violate export quotas, in a move to tighten control over the world’s largest source of the critical mineral.Â
Congo supplies more than 70% of global cobalt, a mineral essential for electric vehicle batteries, smartphones, and renewable energy technologies. Authorities say the new policy will ensure better regulation of resources and prevent market distortions caused by illegal or excessive shipments.
The Ministry of Mines said violators would not only lose their operating licenses but also face financial penalties. Officials stressed that the move aims to protect the country’s economy, encourage value-added local industries, and stop multinational firms from exploiting loopholes.
International investors, however, are concerned that the measure could disrupt global supply chains. Cobalt prices already jumped by nearly 4% in early trading after the announcement, highlighting the mineral’s strategic importance.
Congolese officials added that they were also working on stricter auditing systems and electronic monitoring tools to track export volumes. The policy is expected to take effect before the end of 2025.
