DRC extends ban on cobalt export for another three months
Africanews · 13 days ago
Africanews
13 days ago
A regulatory agency announced Saturday that the Democratic Republic of Congo has extended its ban on cobalt exports for three months, a measure aimed at curbing an oversupply of the key material for electric vehicle batteries.
BreakdownGenerated by LeadStory AI
- DRC has extended its cobalt export ban for three more months to address oversupply. 7s
- The country imposed the initial ban after cobalt prices hit a nine-year low. 24s
- The regulatory agency will decide on further action before the new period ends in September. 40s
- Authorities are reviewing the allocation of cobalt export quotas among mining companies. 51s
- Major industry players, including Glencore, support the introduction of export quotas. 1m 2s