The Democratic Republic of Congo (DR Congo), which produces nearly 75% of the world’s cobalt, has announced potential new export restrictions following the end of its current four-month ban on cobalt exports. Since February 2025, Kinshasa has suspended cobalt shipments to counter an oversupply in the global market that caused a sharp decline in prices.
Cobalt is a critical mineral widely used in lithium-ion batteries for electric vehicles and smartphones, making it a highly strategic resource. The export ban aimed to stabilize cobalt prices and protect the interests of Congolese producers and investors.
However, Patrick Luabeya, president of DR Congo’s Authority for the Regulation and Control of Strategic Mineral Substances' Markets, revealed on May 14 that while stockpiles that had contributed to the price slump have been significantly reduced, they have not yet been completely exhausted. Luabeya emphasized that the next regulatory move “will inevitably imply a strict limitation of exports in whole or in part until market balance is reached with regard to the supply and demand of cobalt.”
The agency plans to engage with industry stakeholders in June to discuss the future of the export ban and potential curbs. This measure seeks to ensure a stable cobalt market benefiting local miners and investors while balancing global demand.
Given DR Congo’s dominant role in the cobalt market, any new export restrictions could have significant implications for the global supply chain of electric vehicle batteries and electronics manufacturing.
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