CMOC Group significantly increased cobalt production at its operations in the Democratic Republic of Congo during the first quarter of 2025, even as local authorities enforced a temporary export ban on the battery metal.
According to the company’s latest statement, cobalt output rose by 20.7% to 30,414 metric tons in the three months ending March. Copper production also climbed 15.7%, reaching approximately 171,000 metric tons.
In February, the DRC — the world’s largest supplier of cobalt — imposed a four-month ban on cobalt exports, aiming to curb market oversupply and support depressed prices.
Since the ban, cobalt prices on China’s Zhonglianjin trading platform have surged over 25%, closing at 219,000 yuan per ton as of Tuesday.
CMOC, the world’s largest cobalt producer, has forecast its 2025 cobalt output between 100,000 and 120,000 metric tons.
In 2024, the company more than doubled its cobalt production to 114,000 tons, up from 56,000 tons in the previous year, driven by expanded operations at its Tenke Fungurume and Kisanfu mines in the DRC.
The Congolese government has indicated it may extend the export ban or implement further measures to regulate cobalt supply and stabilize global prices.
