CMOC Group seeks DRC to end cobalt export ban

Chinese mining giant CMOC Group has called on the Democratic Republic of Congo (DRC) to lift its temporary ban on cobalt exports, which was introduced in February 2025. The company’s request was delivered by CMOC vice-president Kenny Ives during a closed-door meeting at an industry event in Singapore, attended by DRC Mines Minister Kizito Pakabomba.

The ban was implemented as a short-term measure to address a surplus in the cobalt market, which has seen prices fall to their lowest point in nearly a decade. However, CMOC warned that continued restrictions could negatively impact the industry and accelerate the global shift toward lithium iron phosphate (LFP) batteries—an alternative that does not rely on cobalt and is increasingly favored by Chinese electric vehicle manufacturers like BYD.

Cobalt market

Ives emphasized that China’s cobalt inventories are declining and argued that the DRC should allow for unrestricted exports to meet global demand. His remarks were interpreted by some attendees as a subtle warning that China could move away from cobalt-based technologies if access remains limited. This has raised concerns that China may be using the situation to quietly build strategic reserves while influencing global pricing.

CMOC, which operates the Tenke Fungurume and Kisanfu mines in the DRC, expects to maintain a strong production output of 100,000 to 120,000 tonnes this year, more than double the volume it produced in 2022.

Meanwhile, other major stakeholders, such as Glencore, have expressed support for the current restrictions, advocating for a more stable market before the resumption of unrestricted exports. They have shown openness to a potential quota-based system, should the DRC choose to implement one after the ban ends.

Industry analysts, including Shirley Wang of Shanghai Metals Market, pointed out that many Chinese smelters currently hold stockpiles sufficient for several months, suggesting that supply chain pressure may not be immediate.

The DRC government is currently assessing the economic and strategic implications of its export policy, including the potential for stricter controls following the end of the current ban. This assessment involves weighing short-term revenue losses against the benefits of long-term market influence and supply chain leverage.

As the world’s top cobalt producer, the DRC’s next move is being closely watched by battery manufacturers, mining firms, and policymakers worldwide. The outcome could influence cobalt prices, global EV battery strategies, and the future of energy-critical mineral supply chains.