Sources say that Congo's cobalt exporters are still waiting for approvals.
Four industry sources said that cobalt producers are still waiting on government approval for the resume of exports. A quota system was introduced in October and it was expected that shipments would restart immediately.
The system replaced an export suspension of several months that had disrupted global supply chain and rattled electric car manufacturers, especially in China, the top consumer.
Congo, which accounts for 70% of the global cobalt production, temporarily frozen exports in order to reduce supply and increase prices.
The new regime requires companies to apply for monthly export quotas with the state regulator, Strategic Mineral Substances Market Regulation and Control Authority, and pay royalties based upon assigned volumes and current cobalt prices prior to shipping.
Exporting requires companies to validate quotas, product quality and traceability certificates. They must also allow ARECOMS to oversee sampling. The regulator stated that prepayments for October and November are combined to activate the quotas of both months.
Sources at mining and trading companies, who requested anonymity as they were not authorized to speak publicly, said that quotas had been allocated and that firms hoped for approvals before the end of October. However, delays could occur.
The government has said that there will be no delays. ARECOMS, the Congo's Mines Ministry and Congo's ARECOMS did not respond immediately to requests for comments.
Sources could not confirm if all producers had submitted applications. Glencore, world's 2nd largest cobalt producer declined to comment. Top cobalt producer CMOC didn't immediately respond to a comment request.
The system is based on the principle of "use it or lose it". ARECOMS set export limits of 18,125 metric tonnes for the fourth quarter 2025, and 77 400 tons for 2026.
Volumes that are not used by the end of 2025 will be forfeited. ARECOMS said that quotas would reset each month starting in 2026 and could not be carried forward.
After years of "predatory tactics," Congo's president Felix Tshisekedi said that the export freeze had helped to drive a 92% increase in cobalt price since March. He called the quotas system "a lever for influence on this strategic market."
Glencore is in favor of the new system while CMOC is against it.
The Tenke Fungurume mine and Kisanfu Mine of CMOC received the highest allocations, 6,650 tons in the fourth quarter 2025 and 31920 tons in 2026.
Glencore's Kamoto Copper Company, and Mutanda Mining received 3,925 and 18,840 tonnes respectively. ARECOMS kept a 10% "strategic allotment."
The COMEX cobalt price has risen 90% since it hit a low of $10/lb, nine years ago in February when the export ban was announced. Reporting by Tom Daly and Dylan Duan. Maxwell Akalaare Adombila is the author. Editing by Veronica Brown, Mark Potter and Mark Potter.
(source: Reuters)
