DRC extends cobalt export ban for three months due to market oversupply

From Yahoo Finance: 2025-06-23 04:59:00

The Democratic Republic of Congo extends its cobalt export ban for three months due to market oversupply, affecting electric vehicle battery production. ARECOMS cites the need to reduce stock levels. Quotas for cobalt shipments are being considered, with support from Glencore but opposition from CMOC Group. In a separate incident, a coltan mine collapse in Rubaya kills 12 people, with the cause still unknown. Rubaya’s artisanal mines contribute to global coltan supply, controlled by M23 rebels since mid-2024.



Read more at Yahoo Finance: DRC extends cobalt export ban amid persistent market oversupply