https://en.sputniknews.africa/20250225/drc-suspends-cobalt-exports-for-four-months-1070817138.html
DRC Suspends Cobalt Exports for Four Months
DRC Suspends Cobalt Exports for Four Months
Sputnik Africa
The DRC produces about three-quarters of the world's cobalt, which is used in various applications, including electric vehicle batteries. 25.02.2025, Sputnik Africa
2025-02-25T11:44+0100
2025-02-25T11:44+0100
2025-02-25T12:07+0100
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The Democratic Republic of the Congo (DRC) is suspending cobalt exports for four months to control the supply of cobalt on the international market, which is currently experiencing an oversupply. This caused prices to fall continuously.This decision aims "to strengthen the traceability and control of the supply chain and to promote the local processing of the ore," the country's Ministry of Mines said, citing a press release from the Congolese mining regulator as its explanation.The decision to suspend cobalt exports could be reviewed in three months, the agency said.This suspension comes amidst ongoing conflict in eastern DRC. Since January, hostilities have claimed more than 7,000 lives, the vast majority of them civilians, as Prime Minister Judith Suminwa Tuluka stated in Geneva on Monday.
https://en.sputniknews.africa/20250225/sadc--eac-appoint-facilitators-for-regional-peace-process-in-eastern-drc-1070815696.html
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democratic republic of the congo (drc), central africa, cobalt, mining, conflict, war, m23 rebels, export, economy
democratic republic of the congo (drc), central africa, cobalt, mining, conflict, war, m23 rebels, export, economy
DRC Suspends Cobalt Exports for Four Months
11:44 25.02.2025 (Updated: 12:07 25.02.2025) Ekaterina Shilova
Writer / Editor
The DRC produces about three-quarters of the world's cobalt, which is used in various applications, including electric vehicle batteries.
The
Democratic Republic of the Congo (DRC) is suspending cobalt exports for four months to control the supply of cobalt on the international market, which is currently experiencing an oversupply. This caused prices to fall continuously.
This decision aims "to strengthen the traceability and control of the supply chain and to promote the local processing of the ore," the country's Ministry of Mines said, citing a press release from the Congolese mining regulator as its explanation.
The decision to suspend cobalt
exports could be reviewed in three months, the agency said.
This suspension comes amidst
ongoing conflict in eastern DRC. Since January, hostilities have claimed more than 7,000 lives, the vast majority of them civilians, as Prime Minister Judith Suminwa Tuluka stated in Geneva on Monday.
