DR Congo bans copper and cobalt concentrate exports
The world's dominant cobalt producer is tightening control again — this time pushing more processing onshore.
What happened
DR Congo issued an order banning exports of copper and cobalt concentrates, with limited one-year exemptions possible for strategic cases. It followed a June move by the country's mineral-markets regulator to claw back unused first-half cobalt export quotas into a state-controlled strategic pool.
Since the start of 2026, Congo has capped cobalt exports at about 96,600 tonnes a year — less than half its 2024 output. Copper prices in London rose as much as 1.8% on the news.
Our take
This is resource nationalism with a clear goal: capture more of the value chain at home. Congo has tried concentrate bans before and granted waivers when local smelters couldn't keep up, so enforcement is the real question.
For cobalt, though, the quota system is already reshaping the market. With Congo producing roughly three-quarters of global supply and Chinese companies owning most of its mines, buyers have few alternatives in the short run.
Why it matters for AI infrastructure
Cobalt shows up in some battery chemistries used for backup power and in superalloys for gas turbines that generate on-site power. Congo also supplies a meaningful share of the world's copper.
What we're watching
- Second-half cobalt quota allocations and any further forfeitures
- Whether major mines receive exemptions
- Progress on the US-backed Lobito rail corridor to Atlantic ports