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YAOUNDE – The Democratic Republic of Congo (DRC) has suspended cobalt exports for four months to stabilize the market and regulate illegal mining.
In a statement by the Market Regulation and Control Authority (ARECOMS), which is part of the Ministry of Mines, it was announced that the suspension was implemented to stabilize the market and specifically regulate illegal mining.
The statement noted that the decision applies to all mining activities, including industrial, semi-industrial, artisanal, and small-scale production. It also mentioned that the situation would be reviewed within three months and the suspension decision would be reassessed.
As the world’s largest cobalt producer, the DRC supplies more than 80% of the global cobalt supply.
Mining activities, particularly in the Katanga province in the east of the country, are one of the most important sectors of the national economy.
Cobalt is a strategic raw material with significant importance in the production of electric vehicle batteries, smartphones, and other electronic devices.
