Congo Seeks Outside Advice on Imposing Cobalt Export Curbs
- Biggest producer wants to exert more control over price
- Work on possible restrictions began under previous government
The Democratic Republic of Congo, the top cobalt producer, is sounding out advice from international industry organizations over measures to raise the battery metal’s price, including through potential export quotas.
It’s the latest attempt by the country — which supplies about 75% of the world’s cobalt — to try to gain greater control of crucial minerals. Cobalt prices have plunged by two-thirds since mid-2022 as global supply races ahead of demand. In a ministerial meeting in February, President Felix Tshisekedi bemoaned the slump caused by a glut amid excessive supplies from Congo.