Sources say that samples are collected in Congo for the first shipment of cobalt by CMOC.

Two government sources have confirmed that the Democratic Republic of Congo is collecting samples to prepare for the first shipment of cobalt by Chinese company CMOC under a new quota-based system. This shipment, which should take place within days, will be the first of its kind. Analysts estimate that Congo is responsible for 70% of the world's mined cobalt. A months-long ban on exports has pushed cobalt prices up and reduced the availability of metals needed for electric cars.

The new system was launched on 16 October and has a quota for the fourth quarter of 18,125 tons. It will cap exports to 96,600 tonnes per year from 2026.

CMOC, and Glencore, two of the world's largest cobalt producers, received the biggest allocations. CMOC has a quota of 6,650 tons for the fourth quarter, while Glencore has?3,925 tonnes.

Two government sources have not disclosed the exact volume or timing of 'the first shipment from CMOC Tenke Fungurume Mining.

Sources at Tenke Fungurume Mining confirmed that sampling had started, but stated that shipment would not be likely before January. Source said that it would only be a small shipment, under the 2025 quota.

Sources from the Congolese Government said that CMOC would pay a royalty of 10%, just like Glencore.

One source said that the export request from CMOC had already been sent.

Source: Sample results arrive in 3 to 4 days... and then the loading begins.

Vincent Zhou, CMOC's spokesperson, said Monday that CMOC "has already implemented a number of export arrangements in compliance with the procedures of Congolese Government," without elaborating. The?country’s mining lobby had previously called for urgent discussions to clarify legal ambiguities?and compliance obstacles.

The new requirements, including a royalty prepayment of 10% within 48 hours as well as a certificate of compliance before any cargo is moved could delay exports or disrupt global supply chains for batteries.

Two attendees said that there wasn't much progress made when representatives of Congo's Chamber of Mines met with the Mining Ministry in Kinshasa at the end of the week to discuss concerns. (Additional reporting by Tom Daly, Writing by Robbie Corey Boulet, Editing by Kirby Donovan).

(source: Reuters)