Cobalt Prices Surge, Offering Major Opportunities for the Democratic Republic of Congo
The international cobalt market, a key export of the Democratic Republic of Congo (DRC), has seen significant growth in recent months.
According to the Central Bank of Congo (BCC) in its latest economic outlook, cobalt prices held steady at USD 32,650 per tonne during the last week of July 2025, remaining unchanged into the first week of August.
Compared to the end of 2024, cobalt prices have surged by 35.8%, and over the past year—from August 2024 to August 2025—they increased by 29.5%, reflecting strong global demand.
Cobalt is a critical component in rechargeable batteries, which are widely used in electric vehicles, smartphones, and energy storage systems.
Its strategic importance is rising amid the global shift toward decarbonization and renewable energy.
The DRC, producing more than 60% of the world’s cobalt, sits at the center of this global trend. The recent price surge represents a major opportunity for the country in terms of export revenues and foreign exchange, potentially strengthening the balance of payments, international reserves, and macroeconomic stability.
However, the benefits of this price increase are not guaranteed. The Congolese economy remains vulnerable to commodity price fluctuations, and the impact on the population depends on the government’s ability to effectively manage mining revenues, diversify the economy, and improve governance in the extractive sector.
To fully leverage this advantage, the DRC must focus on sustainable development, including transparent resource management and policies that encourage the creation of local value chains, particularly in cobalt processing and battery manufacturing.
The nearly 30% increase in cobalt prices over one year highlights the vitality of the global market and signals the pivotal role the DRC can play in the energy transition—provided that this wealth translates into tangible benefits for its population.
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