Congo has extended its cobalt export ban by three months
The post Congo has extended its cobalt export ban by three months appeared on BitcoinEthereumNews.com. Congo has extended its ban on the export of cobalt, a key material in making electric vehicle batteries, for another three months. The Democratic Republic of Congo has restricted electronic vehicle manufacturers’ access to a material essential to their technology: cobalt. Today’s development is the latest in a familiar theme of trade wars spreading across different sectors. The Democratic Republic of Congo (DRC) is the world’s leading producer of cobalt, and as such, the move spells uncertainty for electric vehicle (EV) manufacturers. Congo’s cobalt export ban remains in place Congo’s mineral regulatory agency made the announcement on Saturday. The industry is currently experiencing a crisis as global cobalt prices remain in decline. Miners are currently divided over how to navigate the growing stockpile. The original four-month export suspension was imposed in February 2025 to curb an oversupply of cobalt, a critical component in lithium-ion batteries used in EVs, smartphones, and other high-tech devices. The initial ban was set to expire on June 23, but the new extension will run until September, keeping roughly 70% of the world’s cobalt production largely unavailable to global markets. “The decision has been taken to extend the temporary suspension due to the continued high level of stock on the market,” the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS) said in a statement. #RDC_MINES | COMMUNIQUÉ Prolongation de la suspension temporaire de l’exportation du Cobalt. pic.twitter.com/S8XyZPLKDL — Ministère des Mines – RDC (@MinMinesRDC) June 21, 2025 Congo’s ARECOMS expects its market intervention to stabilize cobalt prices, which fell to a nine-year low of $10 per pound earlier this year. Cobalt miners are divided on cobalt control strategy Congo’s latest move has sparked disagreement among the industry’s biggest players, including Glencore and CMOC Group. These companies are the world’s top two cobalt…
The post Congo has extended its cobalt export ban by three months appeared on BitcoinEthereumNews.com.
Congo has extended its ban on the export of cobalt, a key material in making electric vehicle batteries, for another three months. The Democratic Republic of Congo has restricted electronic vehicle manufacturers’ access to a material essential to their technology: cobalt. Today’s development is the latest in a familiar theme of trade wars spreading across different sectors. The Democratic Republic of Congo (DRC) is the world’s leading producer of cobalt, and as such, the move spells uncertainty for electric vehicle (EV) manufacturers. Congo’s cobalt export ban remains in place Congo’s mineral regulatory agency made the announcement on Saturday. The industry is currently experiencing a crisis as global cobalt prices remain in decline. Miners are currently divided over how to navigate the growing stockpile. The original four-month export suspension was imposed in February 2025 to curb an oversupply of cobalt, a critical component in lithium-ion batteries used in EVs, smartphones, and other high-tech devices. The initial ban was set to expire on June 23, but the new extension will run until September, keeping roughly 70% of the world’s cobalt production largely unavailable to global markets. “The decision has been taken to extend the temporary suspension due to the continued high level of stock on the market,” the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS) said in a statement. #RDC_MINES | COMMUNIQUÉ Prolongation de la suspension temporaire de l’exportation du Cobalt. pic.twitter.com/S8XyZPLKDL — Ministère des Mines – RDC (@MinMinesRDC) June 21, 2025 Congo’s ARECOMS expects its market intervention to stabilize cobalt prices, which fell to a nine-year low of $10 per pound earlier this year. Cobalt miners are divided on cobalt control strategy Congo’s latest move has sparked disagreement among the industry’s biggest players, including Glencore and CMOC Group. These companies are the world’s top two cobalt…
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