• CMOC urges DRC to lift cobalt export ban to meet Chinese client demand

• Glencore supports continued restrictions to stabilize global market

• Cobalt prices up over 50% since February amid tightened supply

Chinese mining firm CMOC and Swiss commodities trader Glencore are at odds over the future of cobalt exports from the Democratic Republic of Congo (DRC). The dispute centers on whether Kinshasa should lift a current export ban, originally imposed to address a global surplus of the battery-critical metal.

CMOC is lobbying the Congolese government to lift the embargo, citing dwindling inventories among its Chinese clients. Kenny Ives, Vice President at CMOC, warned that if supplies remain restricted, automakers may accelerate a shift toward cobalt-free lithium-ion batteries.

Glencore, in contrast, argues that the ban should remain in place until the market achieves greater stability. The firm supports ongoing efforts by producer countries like the DRC to manage supply and avoid price volatility. Though production has not been interrupted, the current halt in exports has significantly tightened global availability.

The Congolese export ban, still in effect, is officially set to expire on June 22. However, authorities have not confirmed whether it will be lifted or extended. President Félix Tshisekedi has suggested that an extension remains on the table. The government is also considering a quota-based export system—a proposal Glencore is reportedly open to supporting.

Since the embargo began, cobalt prices have surged, rising from $21,000 per ton in late February to more than $33,000 on the London Metal Exchange—a jump of over 50%. As the largest cobalt-producing country, the DRC’s next move will be pivotal for global supply chains and the trajectory of cobalt prices in the coming months.