The Democratic Republic of Congo (DRC) has extended a suspension on the export of cobalt for a further three months, citing global oversupply and plunging prices for the critical battery metal.
The extension applies to exports from the massive Tenke Fungurume and Kisanfu mines, both operated by Chinese mining group CMOC, and was confirmed by the Regulatory Authority for Control and Certification of Strategic Mineral Products (ARECOMS)—the government body overseeing the inspection and certification of strategic mineral shipments.
The cobalt export suspension was initially enforced in February and according to ARECOMS, the decision to extend the ban is part of a strategy to ease downward pressure on prices by limiting supply from the world’s largest cobalt-producing nation.
“We are still in a situation of severe market imbalance,” ARECOMS said in a statement. “The current oversupply has resulted in prices that do not reflect the strategic value of our national resources. As a result, we have decided to prolong the suspension to protect DRC’s economic interests.”
Cobalt hydroxide prices have fallen by more than 60% since early 2022, largely due to rising production in Indonesia and a slowdown in demand from China’s electric vehicle sector. The Tenke Fungurume and Kisanfu mines together account for around 20% of global cobalt supply. Any restriction from these operations has significant implications for the battery metals market.
The export ban was initially enforced when ARECOMS refused to issue export certificates for cobalt hydroxide produced by CMOC’s Congolese subsidiaries. While copper exports were allowed to proceed, cobalt shipments were halted pending regulatory clearance. Despite multiple requests for export permits, ARECOMS maintained the suspension, citing the need to support the country’s market position and ensure transparency.
State-owned miner Gécamines, which holds a significant stake in the Tenke Fungurume project, has supported the move, aligning with the government’s aim to exert greater control over mineral exports and pricing.
CMOC had resumed full-scale operations after resolving a prolonged dispute with Gécamines in 2023, which previously halted shipments for over a year. However, the renewed regulatory action has again disrupted its export plans. CMOC is reportedly building stockpiles and facing mounting logistical and storage costs.
Analysts say the extended export freeze reflects the DRC government’s growing assertiveness in managing its vast mineral wealth and attempting to capture more value domestically. However, there are warnings that prolonged export restrictions could unsettle global markets and drive consumers to alternative suppliers or lower-cobalt battery chemistries.
Despite these concerns, ARECOMS signaled that it would continue monitoring the market closely and take further action if needed. “The decision is reversible depending on market evolution,” the agency noted.
With over 70% of the world’s cobalt sourced from the DRC, the latest extension places Kinshasa once again at the centre of global battery metal supply chains—and in a position to shape market dynamics through strategic regulation.
