Military-backed intruders occupy huge cobalt deposit in Congo

Published: May 19, 2026 19:05

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The Metalkol project in Kolwezi, owned by Eurasian Resources Group (ERG), holds over 100 million tonnes of tailings and is one of the world’s key sources of cobalt supply. Recently, however, a local cooperative known as Hosanna has entered the concession under the protection of Congolese soldiers, extracting tailings on a large scale and transporting them to nearby Chinese-owned refineries. ERG considers this an illegal encroachment, which could potentially shorten the project’s lifespan from around nine years to three years, resulting in more than $10 billion in lost revenue. However, both the Ministry of Interior and the Ministry of Mines in the DRC have stated that no formal authorization has been granted, and government authorities are currently stepping in to mediate the situation.

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