The world’s top producer of the mineral says it will now control global supply through strict annual export quotas, starting October 16th.
Breakdown
- DRC will end its ban on cobalt exports and introduce strict annual quotas.
- Export limits are set at 18,125 tons for the rest of the year and 96,600 tons for 2026 and 2027. 15s
- The previous ban was implemented after cobalt prices reached a nine-year low. 33s
- The quota system aims to reduce oversupply, support prices, and address illegal mining linked to conflict. 44s
- 10% of exports will be reserved for national projects, and the regulator can buy back excess stockpiles. 58s