The Democratic Republic of the Congo’s (DRC) Strategic Minerals Regulatory Agency announced on Sunday that the country will extend its cobalt export ban until October 15, 2025, lifting it on October 16 and replacing it with an annual export quota system.

According to the official notice, mining companies will be permitted to export up to 18,125 tonnes of cobalt for the remainder of 2025. The annual export caps for 2026 and 2027 are set at 96,600 tonnes each year.

Market Impact and Industry Response

Cailian Press reporters consulted multiple industry insiders, who indicated that most major producers of cobalt intermediates have suspended price quotations, and some manufacturers have halted production due to raw material shortages. If the DRC’s export restrictions persist or cause prolonged supply disruptions, cobalt prices are expected to surge sharply in the short term.

In response, CMOC Group Limited (China Molybdenum Co., Ltd.) stated it would strategically manage resource releases in line with local policy developments to maximize cobalt value. Hanjie Cobalt said it is controlling order intake to carefully manage its sales pace.

Most Chinese cobalt producers currently hold sufficient raw material inventories to last through the end of 2025, according to industry sources.

Relevant Listed Companies

Per Cailian Press’s thematic database:

• Huayou Cobalt operates two nickel-cobalt hydrometallurgical projects in Indonesia—Huayue and Huafly—both of which are running above nameplate capacity. In 2024, the company shipped approximately 180,000 tonnes of nickel metal content in MHP (Mixed Hydroxide Precipitate), containing roughly 18,000 tonnes of cobalt.

• GEM Co., Ltd. has an annual cobalt recycling capacity of 8,000 tonnes. Its Indonesian nickel smelting operations (including a 40,000-tonne/year stake in a joint venture) have a total capacity of 150,000 tonnes of nickel metal per year, yielding approximately 10,000 tonnes of cobalt annually as a by-product.

(Source: Cailian Press)