The Democratic Republic of Congo is set to lift its suspension on cobalt exports next month, introducing a quota-based system to stabilise the global market for the critical battery metal.
The export ban, first imposed in February and extended twice, will officially expire on October 15.
Starting October 16, Kinshasa will allow miners to resume shipments under strict quotas—18,000 tons for the remainder of 2025, followed by annual limits of 96,600 tons in 2026 and 2027.
By comparison, Congo’s cobalt output reached nearly 220,000 tons in 2024.
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The DRC, which accounts for over 70% of global cobalt supply and 80% of refined output, introduced the suspension earlier this year after prices plunged to a nine-year low of about US$10 per pound.
The downturn was fueled by oversupply from Chinese-operated copper-cobalt mines and weaker demand from electric vehicle manufacturers.
Since the restrictions came into effect, prices have staged a strong rebound. On COMEX, cobalt now trades at around US$16 per pound. In China, cobalt sulphate—a key material for EV batteries—averaged US$6,947 per ton in August, up more than 90% since January, though still far below the US$19,000 peak seen in 2022.
According to Adamas Intelligence, cobalt use in EV batteries surged in August, with a deployment value of US$180 million—the highest since late 2022. The average cobalt content value per vehicle has also doubled since the start of the year, climbing above US$70.
By shifting from a blanket ban to quotas, DRC aims to avoid flooding the market while ensuring steady exports of the mineral critical to the global clean energy transition.
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