DRC Says Cobalt Export Ban Prevented Market Crash as Prices Surge from $21,000 to $50,000 per Ton
The Democratic Republic of Congo (DRC) has reaffirmed the rationale behind the temporary suspension of cobalt exports, a measure implemented by the Regulatory and Control Authority for Strategic Mineral Substances Markets (ARECOMS).
Despite criticism from some stakeholders, the government maintains that the decision was necessary to protect the country’s strategic mineral and prevent a collapse in global prices.
As the world’s leading holder of cobalt reserves, the DRC argued it had both the leverage and responsibility to stabilize a market facing oversupply. Authorities have confirmed that cobalt exports are expected to resume shortly.
According to the government, the suspension was triggered by a widening gap between supply and demand. With production outpacing consumption, large volumes of unsold cobalt began accumulating in stockpiles—a clear warning sign of an impending price crash. By halting exports, the DRC sought to rebalance the market and prevent further deterioration.
Although the pause in exports temporarily reduced state revenue, officials emphasized that the cobalt is still available and will now be sold under improved market conditions.
The government also highlighted that its new export quota system will help preserve long-term price stability and reinforce national control over a mineral vital to the global battery and electric vehicle industries.
By holding roughly 70% of the world’s cobalt reserves, the DRC maintained it was fully within its rights to shape market policy rather than remain a passive actor in a volatile global commodities environment.
Authorities pointed to the significant rise in cobalt prices as validation of the strategy. Before the suspension, cobalt traded at approximately USD 21,000 per ton. Today, the price is approaching USD 50,000 per ton—more than double the previous value.
Officials stated that selling cobalt during the oversupply phase would have worsened the downturn and further depressed global prices.
They also reiterated the country’s sovereign authority to implement such measures in defense of national interests.
Earlier this year, ARECOMS extended the cobalt export suspension until October 15, 2025. The ban was lifted on October 16 and replaced with a structured quota system that will remain in place until further notice.
Under the new framework, export volumes are restricted to 18,125 tonnes between October 16 and December 31, 2025. For 2026, the annual ceiling is set at 96,600 tonnes, including a basic monthly quota and a strategic reserve managed directly by ARECOMS. The same parameters are expected to apply in 2027, with possible adjustments.
Certain companies will not be eligible for quotas, including firms that exported less than 100 tonnes in 2024 (excluding the state-owned General Cobalt Company), companies with refineries but no recent cobalt mining activity, and operators whose reserves are depleted.
ARECOMS will issue additional guidelines on quota allocation procedures, regulatory fees, prepayment mechanisms, and export formalities. The measures officially took effect on September 21, 2025.
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