Critical Minerals and Energy Intelligence. Stay Ahead.

Congo, world’s largest cobalt producer, suspends exports

Subscribe for Investment Insights. Stay Ahead.

Investment market and industry insights delivered to you in real-time.

First Name:* First Name Required

Last Name:* Last Name Required

Address Line 1:* Address Line 1 is Required

Address Line 2: Address Line 2 is not valid

City:* City is Required

Country:* Country is Required

State/Province:* State/Province is Required

Zip/Postal Code:* Zip/Postal Code is Required

Username:* Invalid Username

Email:* Invalid Email

Password:* Invalid Password

Password Confirmation:* Password Confirmation Doesn't Match

I agree to the Terms & Conditions and Privacy Policy of The Oregon Group* and and agree to receive newsletters.

No val Please fix the errors above

The Democratic Republic of Congo (DRC) has announced an immediate halt of cobalt exports for four months, due to an oversupply of the market which has driven prices down.

According to a Bloomberg report, the measures came into force on February 22, 2025, after the country’s prime minister and mines minister signed a decree allowing the regulator to take temporary action, including barring exports, “in case of circumstances affecting the stability of the market.”

Congo controls an estimated 76% of global market share and supports 78% of annual supply growth in 2023.

Mine production of cobalt in the Democratic Republic of Congo from 2010 to 2023 - The Oregon Group - Critical Minerals and Energy Intelligence

Benchmark metal prices have fell below US$10 a pound, a level not breached for 21 years apart from a brief dip in late 2015, according to Fastmarkets data. Cobalt hydroxide, the main form of the metal produced in Congo, has fallen below US$6 a pound.

Patrick Luabeya, president of the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets, known as ARECOMS, told Bloomberg in written responses, that the decision followed a year-long review of market dynamics, revealing that “years of illegal mining and uncontrolled exports from both industrial and semi-industrial producers had led to excessive supply, posing a serious threat to the country and its domestic and international investors.”

The surge in cobalt production is largely attributed to increased output from China’s CMOC Group Ltd. at its two major mines within the DRC.

Subscribe for Investment Insights. Stay Ahead.

Investment market and industry insights delivered to you in real-time.

First Name:* First Name Required

Last Name:* Last Name Required

Address Line 1:* Address Line 1 is Required

Address Line 2: Address Line 2 is not valid

City:* City is Required

Country:* Country is Required

State/Province:* State/Province is Required

Zip/Postal Code:* Zip/Postal Code is Required

Username:* Invalid Username

Email:* Invalid Email

Password:* Invalid Password

Password Confirmation:* Password Confirmation Doesn't Match

I agree to the Terms & Conditions and Privacy Policy of The Oregon Group* and and agree to receive newsletters.

No val Please fix the errors above

Disclaimer

The Oregon Group maintains full editorial control over all content published on this website. While sponsored and advertised placements may be featured, the content remains the sole opinion of The Oregon Group. The author may receive compensation or remuneration for providing content, but all statements and expressions are made independently and are not influenced by sponsors or advertisers. From time to time, The Oregon Group and its directors, officers, partners, employees, authors, or members of their families, as well as persons who are interviewed for articles on this website, may have a long or short position in securities or commodities mentioned and may make purchases and/or sales of those securities or commodities in the open market or otherwise. By accessing and using this website, readers are cautioned to assume that each of the foregoing persons may have a financial interest in all companies and sectors mentioned on this website. Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable., and any such statements are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities or commodities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and The Oregon Group undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material. The information provided on this website is for informational purposes only and is not, directly or indirectly, an offer, solicitation of an offer and/or a recommendation to buy or sell any security or commodity, and the information provided on this website should not be construed as any advice or an opinion as to the price at which the securities of any company or commodity may trade at any time. The Oregon Group is a publisher of financial information, not an investment advisor. We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient, and the information provided on this website is not and should not be construed as personal, financial, investment or professional advice. Readers are cautioned to always do their own research and review of publicly available information and to consult their professional and registered advisors before purchasing or selling any securities or commodities and should not rely on the information contained herein. Neither The Oregon Group nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.