Congo considers asking Indonesia to help rein in cobalt supply
A Congolese ministerial committee recommended measures to bolster a temporary ban on cobalt exports, including working with Indonesia, the No. 2 supplier of the battery metal.
The Democratic Republic of Congo, which produces more than three-quarters of the world’s cobalt, imposed a surprise four-month suspension of shipments in late February. A glut of the metal used in electric-vehicle batteries had seen prices slump.
The government is now considering longer-term policies to generate more value from extracting and processing the metal, and prevent stockpiled material flooding out of Congo when the ban is lifted.
Congo’s Economic Situation Committee – headed by Prime Minister Judith Suminwa Tuluka – made recommendations for the “efficient management” of the ban, according to minutes of a cabinet meeting held on March 14 in the capital, Kinshasa. That includes “obtaining Indonesia’s collaboration” to “better control” cobalt supply and prices on the global market.
While Congo remains by far the largest source of cobalt, Indonesia’s contribution has been growing and last year reached 11% of total supply, according to specialist trading house Darton Commodities. Cobalt is extracted as a byproduct in both countries – mined alongside copper in Congo and with nickel in Indonesia. Prices of the metal have surged from historic lows following the suspension.
The committee also recommended the introduction of export quotas and requirements to boost domestic processing, the minutes said, without providing further details. Congo’s government has been contemplating whether to slap limits on production or shipments for more than a year.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Showroom
CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.
VISIT SHOWROOM
Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
