Congo to claw back unused cobalt quotas

COBALT producers in the Democratic Republic of Congo must forfeit export quotas left unused from the first half of this year, said Bloomberg News citing the country’s regulator ARECOMS.Congo, the world’s largest cobalt source, has restricted exports since early 2025, moving from an outright ban to a quota system in October. This came after deadlines were pushed back twice to allow the new framework to settle. ARECOMS move is likely to tighten supply further in the battery metals market, said Bloomberg.Quotas not used by 30 June would be forfeited and automatically reallocated to its own strategic allowance, said ARECOMS. ARECOMS would also fund local processing and value-addition projects. The agency did not specify how much of the allocation remains unshipped or which companies would be affected, said Bloomberg.CRU Group analyst Thomas Matthews told the newswire the impact will hinge on the size of the forfeited volume and how quickly ARECOMS releases it back to market. Delays would prolong current tightness, he said.Trading house Darton Commodities estimated roughly two-thirds of the nearly 62,000 tons permitted since October has already shipped.CMOC Group, Glencore and Eurasian Resources Group account for over 60% of the total quota between five operations, said Bloomberg.Benchmark cobalt prices have surged more than 160% since restrictions began, Fastmarkets data show. Despite curbs, CRU estimates Congolese miners have stockpiled over 200,000 tons since 2024, suggesting no physical shortage exists domestically.The post Congo to claw back unused cobalt quotas appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com