By Tom Daly, Dylan Duan and Ange Kasongo
LONDON/SHANGHAI/KINSHASA (Reuters) -Cobalt producers in the Democratic Republic of Congo are still waiting for government approval to resume exports under a quota system introduced on October 16 that was expected to restart shipments immediately, four industry sources told Reuters.
The system replaced a months-long export suspension that disrupted global supply chains and rattled electric vehicle manufacturers, particularly in top consumer China.
Congo accounts for over 70% of global cobalt output and temporarily froze exports to curb supply and drive up prices.
Under the new regime, companies must apply for monthly export quotas from state regulator, the Strategic Mineral Substances Market Regulation and Control Authority (ARECOMS), and prepay royalties based on assigned volumes and prevailing cobalt prices before shipping.
To export, companies must validate quotas and product quality, obtain traceability and compliance certificates, and allow ARECOMS oversight during sampling. For October and November, prepayments are combined to activate both months’ quotas, the regulator said.
Quotas have been allocated, and firms are hoping for approvals by the end of October, although delays are possible, the sources at mining and trading firms said, requesting anonymity because they were not authorised to speak publicly.
The government had said there would be no delays. ARECOMS and Congo’s mines ministry did not immediately respond to requests for comment.
The sources could not confirm whether all producers had filed applications. Glencore, the world’s second-largest cobalt producer, declined to comment. Top producer CMOC did not immediately respond to a request for comment.
The quota system works on a “use-it-or-lose-it” basis. ARECOMS has set export limits at 18,125 metric tons for the fourth quarter of 2025 and 77,400 tons for 2026.
Unused volumes can be rolled over within 2025 but will expire at year-end. From 2026, quotas will reset monthly and cannot be carried forward, ARECOMS has said.
Congo’s President Félix Tshisekedi has said the export freeze helped drive a 92% rebound in cobalt prices since March, calling the quota system “a real lever to influence this strategic market” after years of “predatory strategies.”
Glencore supports the new system, while CMOC opposes it.
CMOC’s Tenke Fungurume and Kisanfu mines received the largest allocations of 6,650 tons for the fourth quarter of 2025 and 31,920 tons for 2026.
Glencore’s Kamoto Copper Company and Mutanda Mining were allocated 3,925 tons and 18,840 tons, respectively. ARECOMS retained a 10% “strategic allocation.”
Cobalt prices on COMEX have surged 90% since hitting a nine-year low of $10/lb in February, when the export freeze was announced.
(Reporting by Tom Daly, Dylan Duan & Ange Kasongo. Writing by Maxwell Akalaare Adombila. Editing by Veronica Brown and Mark Potter)
