The DRC decided to extend the 2025 cobalt export quota to Q1 2026.

Recently, the Strategic Mineral Regulatory and Control Agency (ARECOMS) of the DRC issued Document No. 2025/006, which will allow the cobalt export quotas for Q4 2025 to be extended until the end of March. The specific content is as follows:
Bulletin No. 2025/006

Regarding the Extension of Cobalt Export Quotas Allocated from October 16, 2025, to December 31, 2025, to Q1 2026.

The Strategic Mineral Regulatory and Control Agency (ARECOMS) informs relevant mining operators and public administrative departments that the cobalt export quotas originally allocated for the period from October 16, 2025, to December 31, 2025, will be exceptionally extended until March 31, 2026, and remain enforceable within this period.

Regarding the Extension of Quotas Allocated from October 16, 2025, to December 31, 2025:

• Quotas officially notified to operators in 2025 remain valid;
• Their execution period is approved for extension until March 31, 2026;
• Relevant operators must comply with Joint Circular No. 003/CAB.MIN/MINES/2025 and No. 002/CAB.MIN/FINANCES/2025 dated November 26, 2025, which stipulate the relevant implementation rules for cobalt mining procedures.

Any application to modify allocated quotas will be reviewed according to the procedures specified in Decision No. 005/ARECOMS/2025 dated October 10, 2025.

Reiteration of Penalty Measures: ARECOMS reserves the right to revoke the quotas initially obtained by any enterprise if it:

a. Processes mining scrap and/or concentrates from third parties, or ore from artisanal sources, except for General Cobalt Company and Lubumbashi Scrap Heap Company, which are authorized to process the aforementioned products under their own export quotas;

b. Transfers its quota to another enterprise;

c. Fails to export the quantity allocated by the quota;

d. Does not comply with current laws and regulations.

The above measures take effect from January 1, 2026.

Issued in Kinshasa, December 28, 2025.

Impact of this policy: On one hand, the policy clarifies that quotas not exported this year due to procedural issues can be extended until the end of March next year at the latest, alleviating market concerns about the direct disappearance of these quotas. However, considering the future export processing time and the long transportation cycle between the DRC and China, the 2025 quotas will only gradually arrive at ports around March–April 2026 at the earliest. The Chinese cobalt market will still face a relatively tight supply of raw materials in Q1 next year.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lu Yanlin 021-20707875

Xiao Wenhao 021-51666872

Wang Zhaoyu 021-51666827

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Yang Lianting 021-51595835