Congo will revoke cobalt export quotas to companies who fail to export the full volume
In a statement released on Saturday, the mining regulator of the Democratic Republic of Congo said that it would revoke export quotas for companies who fail to meet their export targets, violate environmental or tax regulations, or transfer them to third parties. It was announced that the new rules would come into effect on 16 October. The Congo's Strategic Mineral Substances Market Regulation and Control Authority issued the warning to mark the resumption…
Sources say that Congo will tie export quotas for cobalt to data from three-year companies.
Three sources with knowledge of the issue said that the Democratic Republic of Congo would allocate cobalt export quotas annually based on the production and shipment statistics of companies for the past three years. This is a major shift in policy intended to limit the supply of the world's largest producer. The new quota system is set to come into effect on 16 October. It replaces the months-long suspension of exports that caused supply chain disruptions and roiled electric vehicle manufacturers in China, a major consumer.
Sources say that Congo will tie export quotas for cobalt to data from three-year companies.
Three sources with knowledge of the issue said that the Democratic Republic of Congo would allocate cobalt export quotas annually based on the production and shipment statistics of companies for the past three years. This is a major shift in policy intended to limit the supply of the world's largest producer. The new quota system is set to come into effect on 16 October. It replaces the months-long suspension of exports that caused supply chain disruptions and roiled electric vehicle manufacturers in China, a major consumer.
Audit says that Congo mining companies underreported revenues of $16.8 Billion.
A state audit revealed that mining companies in the Democratic Republic of Congo failed to report $16,8 billion between 2018 and 2023. This could have resulted in a reduction of funds for both the government and the local communities. According to the 2018 Congo mining code, companies must contribute 0.3% annual revenue towards community development funds, which typically support schools and clinics, as well as water systems. The June audit of the Court of Auditors of the country…
Aurubis raises premium for 2026 European Copper to a record $315 per ton
Three market sources reported on Tuesday that Europe's largest copper smelter Aurubis would charge European customers an additional $315 per ton of refined copper in the coming year. This is a record-high for the German company. The premium is added to the London Metal Exchange copper price, which is used in construction and power. It is 38% higher than the $228 per ton paid in 2025 or the two previous years. Aurubis has declined to comment.
Tshisekedi says that Congo will permanently ban exporters of cobalt who breach quotas.
President Felix Tshisekedi warned that the Democratic Republic of Congo would permanently ban exporters of cobalt who violated its new quota-based system. The world's largest producer is tightening controls to reduce fraud and stabilize prices. Congo, which produces 70% of all cobalt in the world, stopped exports of this critical metal for electric batteries after its prices fell to a record low. In September, the Congo's state mineral regulator ARECOMS announced that a quota system based upon historical exports would replace the ban.
Republic of Congo will soon pass a new gas code as it tries to attract investment
The oil minister of the Republic of Congo said that the new gas code is expected to be passed by the parliament this month. This will help the country attract more investments in the sector, which is at the core of its national agenda for development. The code establishes a legal framework to guide gas exploration, production, and development for the Central African nation, which hopes to double its oil production by 2020 to 500,000 barrels equivalent to oil.
The Grasberg Mine accident reduces the global copper supply estimates
Metals analysts have cut their estimates for global copper supply for this year and the next after an incident at the giant Grasberg Mine has dramatically tightened the market outlook. Last week, copper prices reached a 15-month-high of $10 485 per metric ton after Freeport McMoRan declared Grasberg mine in force majeure and cut the sales forecast for Indonesian unit this year and by 2026. Freeport's Grasberg operations in Indonesia were suspended on the 8th of September after a fatal mudslide.
Andy Home: Grasberg disaster shows fragility in copper supply chain
Copper markets are used to sudden supply disruptions, but the events that occurred at Freeport-McMoRan’s Grasberg Mine in Indonesia were unprecedented in their scale and impact. Grasberg, after Escondida mine in Chile, is the second largest copper mine in the world. The 815,000 tons of copper produced last year represented 4% of the global output. The events that took place in Block Cave on the evening of September 8 were the stuff of nightmares. A massive 800,000-ton rush of mud erupted in the mine and spread rapidly, blocking all access routes.
Congo replaces cobalt export ban by quotas starting Oct 16
The Democratic Republic of Congo's strategic minerals regulator announced on Sunday that the country will lift its export ban on cobalt from October 16, and manage global supplies by imposing export quotas. The Authority for the Regulation and Control of Strategic Mineral Substances' Markets announced that miners would be permitted to ship up 18,125 tonnes of cobalt for the remainder of 2025. This will increase to 96,600 tons per year in 2026 and 2027.
Congo replaces cobalt export ban by quotas starting Oct 16
The Democratic Republic of Congo's strategic minerals regulator announced on Sunday that the country will lift its export ban on cobalt from October 16, and manage global supplies by imposing export quotas. The Authority for the Regulation and Control of Strategic Mineral Substances' Markets announced that miners would be permitted to ship up 18,125 tonnes of cobalt for the remainder of 2025. This will increase to 96,600 tons per year in 2026 and 97,600 tonnes annually in 2026 and 207.
Bloomberg News reports that Glencore is in talks with Kamoto Copper Co to sell its stake.
Bloomberg News reported that Glencore, a miner and trader, has been in discussions about selling its controlling stake in an entity that runs a large copper and cobalt operation in the Democratic Republic of Congo. The news comes just a month after Glencore - the second largest cobalt mining company in the world - said that a large portion of its cobalt production would likely remain unsold at the end of this year because of DRC's suspension on cobalt exports.
Congo considers cobalt export ban extension, quota plan faces delays -sources say
Three sources with knowledge of the situation have confirmed that the Democratic Republic of Congo has been considering extending its export ban on cobalt by at least two more months. Officials are working to develop a new quota system in order to replace the suspension. A senior official in the Mines Ministry said that the Mines Ministry made the decision because it needed more time to implement the quota system and a further recovery of the cobalt prices. The Presidency must approve the Mines Ministry decision.
Andy Home: Zinc market ignores low LME stock as a false signal
Zinc stocks at the London Metal Exchange (LME), have fallen for seven consecutive months. The remaining zinc stocks would only cover one day of global consumption. No one has told the market that zinc is in real danger of being scarce. Zinc underperformed all the other base metals on the LME this year, and it is the only one that still trades below its start-of-year price by 4%. Time-spreads are tightening but remain at a small contango. This suggests that the LME's near-depletion of inventory isn't a true reflection of the real world.
Glencore warns that a ban on exports from Congo could result in a large portion of its cobalt production not being sold by the end of 2025
Glencore announced on Wednesday that a large portion of its cobalt output would likely remain unsold at the end of 2025, due to the suspension of cobalt sales by the Democratic Republic of Congo. DRC, world's largest cobalt exporter, suspended exports for four months in February, after prices fell to a record low. In June, it extended the suspension by another three months. The export ban was intended to reduce the global oversupply of cobalt…
KoBold Metals, supported by Bezos and Gates and secured a deal for disputed Congo Lithium deposit
KoBold Metals - the mining company owned by U.S. billionaires Jeff Bezos & Bill Gates - has signed a deal with the Democratic Republic of Congo. This agreement allows the U.S. company to purchase the controversial Manono Lithium deposit and begin large scale critical mineral exploration. The deal is a dramatic increase in the fight for Manono, a lithium deposit in northern Congo that is considered to be one of the largest in the world, and crucial for batteries for electric vehicles.
CMOC IXM declares Force Majeure on Cobalt Deliveries from Congo
IXM, a commodity trader owned by China's CMOC Group has declared force majeure for deliveries of cobalt from the Democratic Republic of Congo, after the country extended the ban on exports of battery material. In February, the Congo suspended all cobalt exports for four months to reduce oversupply and stabilize prices which were at a nine-year-low of around $10 per lb. The world's biggest cobalt producer country announced last week that it would extend the suspension by another three months.
Congo extends its cobalt export prohibition by three months
A regulatory agency announced on Saturday that the Democratic Republic of Congo had extended its ban on cobalt exports by another three months to reduce oversupply of this material for electric vehicle batteries. In February, the world's largest cobalt exporter suspended exports for four months after prices fell to a nine-year-low of $10 per pound. The ban was set to expire Sunday. The Authority for the Regulation and Control of Strategic Mineral Substances' Markets' (ARECOMS)…
Glencore has halted certain cobalt exports due to the Congo export ban
Three sources familiar with the situation said that Glencore declared force majore on certain deliveries of cobalt from the Democratic Republic of Congo, days after the government had suspended exports of battery material. In February, Congo, the largest cobalt-producing country in the world, introduced a ban of four months on all exports. The move was made to reduce a glut in supply that had pushed prices down to their lowest levels in nine years and reduced tax revenue.
Glencore has halted certain cobalt exports due to the Congo export ban
Three sources familiar with the situation said that Glencore declared force majore on certain deliveries of cobalt from the Democratic Republic of Congo, days after the government had suspended exports of battery material. In February, Congo, the largest cobalt-producing country in the world, banned all exports of cobalt for four months in an effort to reduce a glut in supply that had pushed prices down to their lowest levels in nine years and reduced its tax revenue.