The DRC plans to collaborate with Indonesia, another significant cobalt producer, to manage the global supply and pricing of the metal.
At a conference in Singapore, Patrick Luabeya, President of the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets, announced: “The agency’s next move will inevitably imply a strict limitation of exports in whole or in part until market balance is reached with regard to the supply and demand of cobalt.” Despite reduced stockpiles, excess supply continues to suppress prices, prompting the consideration of further restrictions.
The DRC plans to consult with industry stakeholders in June 2025 to discuss the export ban’s future. Mines Minister Kizito Pakabomba noted that the policy is under review, though specific details were not shared. The government is engaging with major companies, including Glencore, ERG, and CMOC, to shape its cobalt export strategy.
In February 2025, the DRC established a state monopoly to manage the production and export of artisanal cobalt. In March, the Prime Minister announced plans to introduce export quotas post-ban to better regulate the market. The country is also exploring cooperation with Indonesia, another key cobalt producer, to stabilize global supply and pricing.
Cobalt demand, excluding government stockpiling, is expected to grow at a 7% compound annual rate, reaching 400,000 tonnes by the early 2030s. This growth is largely driven by the increasing demand for electric vehicle batteries, highlighting the strategic importance of cobalt in the global energy transition.
