The Democratic Republic of Congo plans to introduce export quotas on cobalt following a four-month export ban and is seeking a partnership with Indonesia to stabilize global supply and prices, Prime Minister Judith Suminwa Tuluka announced.
During a cabinet meeting on Friday, officials outlined a two-pronged strategy: restricting exports while boosting local processing of cobalt, according to meeting minutes reviewed by media.
DRC, the world’s largest cobalt producer, had been considering export quotas since imposing the ban, sources told media in February.
The move comes as cobalt prices hit historic lows due to sluggish demand from automakers and increased copper production, which generates cobalt as a by-product.
To counter market instability, Kinshasa aims to work with Indonesia—another key cobalt supplier—to better regulate global supply and pricing.