• CMOC, the world’s largest cobalt producer, received a 6,500-ton export quota from the Democratic Republic of Congo (DRC) valid until the end of 2025.
• The quota follows the lifting of a national export ban imposed in February 2025 amid a cobalt price slump.
• Cobalt prices have more than doubled since the embargo began, reaching $42,725 per ton on October 12.

The world’s top cobalt producer CMOC has received an export quota of 6,500 tons for the remainder of 2025 in the Democratic Republic of Congo, according to the country’s Authority for the Regulation and Control of Strategic Mineral Markets (ARECOMS). Local media reported the announcement on Saturday, October 11, just days before the government lifts its export ban on the metal.

The DRC government imposed a suspension on cobalt exports in February 2025, citing a sharp decline in global prices and an oversupplied market. The embargo will expire on October 15, after which a quota-based export system will take effect on October 16, allocating volumes to producers in proportion to their exports between 2022 and 2024.

The 6,500-ton quota granted to CMOC combines volumes from its two Congolese operations — 4,250 tons from the Kisanfu mine and 2,250 tons from Tenke Fungurume. CMOC, partly owned by Chinese battery manufacturer CATL, has not yet issued an official statement regarding the allocation.

Despite the export suspension, CMOC maintained cobalt output in the DRC, producing 61,073 tons in the first half of 2025. The new quota represents only about 10% of that figure. The company expects its 2025 annual production to reach 100,000 to 120,000 tons.

The national export quota for the period totals 18,125 tons. Besides CMOC, Glencore received 3,925 tons for its Kamoto and Mutanda mines, while Eurasian Resources Group (ERG) obtained 2,125 tons for Metalkol.

CMOC’s metals trading arm, IXM, declared force majeure on cobalt sales contracts in late June due to the ongoing export restrictions.

ARECOMS stated it reserves the right to revoke quotas if companies fail to comply with new export regulations.

Ahead of the quota system’s implementation, cobalt prices surged by more than 100% since the embargo began. On October 12, cobalt traded at $42,725 per ton on the London Metal Exchange, compared with $21,000 per ton in late February.

This article was initially published in French by Aurel Sèdjro Houenou

Adapted in English by Ange Jason Quenum