Congo bans exports of copper, cobalt concentrates, official order says

Published: Aug 6, 2026 16:57

Save

According to Reuters, the government of the Democratic Republic of the Congo (DRC) has announced an immediate ban on exports of copper and cobalt concentrates as part of its efforts to promote domestic mineral processing and increase the value added from its mineral resources. According to a government order obtained by Reuters, the ban was signed on June 29 by the Minister of Mines, the Minister of Foreign Trade and the Minister of Economy, and explicitly prohibits the export of copper and cobalt concentrates. At the same time, the DRC has introduced a new tax regime for economically significant mining by-products to increase revenue from its mining sector. The new tax regime includes a three-month transition period, while the export ban takes effect immediately. Under "strategic" circumstances, the Minister of Mines may grant export waivers for up to one year. As the world's largest cobalt producer and second-largest copper supplier, the DRC's move is expected to affect major mining companies operating in the country, including CMOC, Glencore, Huayou Cobalt, Zijin Mining, Ivanhoe Mines and Eurasian Resources Group.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

26 mins ago

[SMM Weekly Review] This Week's Hydrometallurgy Recycling Market: Cobalt Prices Steadily Fell, Hydrometallurgy Recycling Transactions Were Sluggish (Aug. 3, 2026 – Aug. 6, 2026)

Raw material side, this week, lithium carbonate and nickel sulphate prices fluctuated, while cobalt sulphate prices fell steadily.

26 mins ago

32 mins ago

MIIT's New Policy Implementation Reshapes Second-Life Application Industry Chain, Market Consolidates on a Subdued Note [SMM Weekly Review]

Second-life battery cell market remained steady overall this week. Upstream raw material cost support weakened. Lithium carbonate briefly rebounded during the week before its overall center shifted lower. Nickel sulphate futures ran steady, while cobalt sulphate continued its sustained downward trend. The raw material side failed to provide effective support for second-life battery cell prices. The supply side was notably impacted by the MIIT Announcement No. 20 on July 30. The document abolished the previous clauses related to power battery second-life applications, removed over a hundred listed second-life enterprises from the compliance catalog, and explicitly prohibited the use of retired power batteries in two-wheeler EV applications. Driven by the policy, dismantled second-life battery cells accelerated their flow into recycling and smelting channels. Quotations for dismantled supply fell under pressure, with some specifications' prices gradually converging toward scrap recycling prices, signifying a structural reshaping of the pricing logic for second-life battery cells. On the demand side, using second-life batteries in the small power sector was already a violation. The new policy means this gray market has been completely eliminated at the regulatory level. The energy storage scenario has become the core demand support for second-life battery cells. Energy storage demand remained stable, but downstream acceptance of high prices was limited, with procurement primarily driven by rigid demand and insufficient momentum for price increases. In the short term, the market is expected to maintain stable operation.

32 mins ago

35 mins ago

[SMM Analysis] Spot Lithium Carbonate Prices Consolidate Higher, Downstream Continues Dip-Buying as Needed

35 mins ago