Dr Congo for suspension of cobalt exports for 4 months

Kinshasa, February 24 (Xinhua)-Democratic Democratic (RDC) announced a four-month suspension of cobalt exports to regulate supply against overproduction concerns, authorities said on Monday.

In a statement, the authority of regulatory and supervision of the RDC for strategic mineral substances (ArecM), a public body from the Ministry of Mines, said that the suspension applies to all mining operations, including industrial, semi-industrial, handmade and small production of the scale. An evaluation will be carried out after three months to determine whether the change or lifting of the suspension.

Arecoms, established in 2019, supervises the regulation of strategic minerals such as Coltan, Cobalt and German. It aims to stabilize the markets, to formalize the handmade sector and to ensure the compliance with the international money laundering regulations and to finance the control of terrorism.

According to the data analysis and global consulting company of the London analysis and consulting company, it is estimated that the cobalt production of the RDC will reach 244 kilotons in 2024. The country is the largest cobalt producer in the world, which provides over 80 percent of global production.

Cobalt is a critical raw material used in different industries, especially in the production of rechargeable batteries for electric vehicles, smartphones and other electronic devices. The cobalt mining industry of the RDC is mainly concentrated in the Katanga region, where both industrial and artisan mining operations.