Cobalt

Research firm BMI argues the DRC's move from an outright export ban to a quota regime should not materially disrupt copper or cobalt supply, since concentrates represent only about 1.7% of global copper mine output and most Congolese cobalt already leaves the country as hydroxide. It sees export quotas, not the concentrate restriction, as the real constraint on cobalt supply.

The DRC has opened an investigation and will screen cobalt hydroxide shipments bound for China after research estimated that thousands of tonnes of undeclared natural uranium left the country embedded in cobalt exports over two decades. Authorities are deploying radiation detectors at border crossings and consulting the IAEA.

Kinshasa has banned exports of copper and cobalt concentrates with immediate effect in a push to force more domestic processing of its minerals. The order squeezes Chinese, Canadian and Swiss mining groups operating in the world's top cobalt-producing nation.