Congo cobalt exporters fear losing quotas

Major cobalt producers in the Democratic Republic of Congo risk losing some of their first-half export quotas due to an administrative glitch affecting a customs platform, according to industry officials and a letter seen by Reuters.

Due to new directives withdrawing unused quotas, the disruption threatens exports of the battery metal from leading global producers and could result in as much as 20,000 metric tonnes of missed shipments worth $1.1 billion at current prices, one industry source estimated.

Congo produces about 70% ⁠of the world's cobalt and hosts operations by China's CMOC and London-listed miner Glencore.

Congo has tightened control of the market through export suspensions and quotas to support prices, which have surged 160% since February 2025 to $26 a pound, or $57,320 a metric tonne.

ARECOMS, Congo's strategic minerals regulator, set a July 5 deadline for exporters to use their first-half quotas, after which unused volumes would be withdrawn and reallocated.

About 60-75% of companies are unlikely to meet the deadline due to administrative delays, a mining executive said.

The regulator has also set a 96,600-tonne annual export cap for 2026 and 2027.

A July ⁠2 letter from Congo's Chamber of Mines to ARECOMS, seen by Reuters, said producers have been unable to register export declarations as required on the customs platform since July 1.

The letter said the blockage on the platform was due to the absence of a formal notification from ARECOMS authorising customs to continue processing export quotas.

Mining companies have urged ARECOMS to resolve ⁠the issue and extend the deadline, the executive said, adding that they had also asked the prime minister to intervene.

ARECOMS, the Mining Ministry and the industry chamber did not immediately respond to requests for comment.

-Reuters