Glencore (GLEN.L) has become the first miner to export cobalt under the Democratic Republic of Congo’s new quota system, sending a small initial shipment to test the process, according to one government source and two trade sources familiar with the matter, and reported by Reuters.
The government cleared Glencore’s shipment this week pending payment of a 10% royalty, marking a return to exports after a months-long ban that sharply increased cobalt prices and tightened supply for electric vehicles.
Congo produces over 70% of the world’s mined cobalt, estimated at around 280,000 metric tons this year.
The quota system, launched on October 16, allocates 18,125 metric tons for the fourth quarter and will cap annual exports at 96,600 tons from 2026.
Traders initially expected shipments to smelters by January, but first full-sized shipments are now expected by April.
China’s CMOC (603993.SS) and Glencore, the world’s two largest cobalt producers, received the largest allocations, with CMOC allocated 6,650 tons and Glencore 3,925 tons.
Congo’s regulator ARECOMS retains 10% for a strategic reserve. CMOC’s Tenke Fungurume Mining has also begun the export process.
Don’t Miss This:
Congo Tightens Cobalt Export Controls With New Rules
“We authorised the release of the first shipment by Glencore as a pilot process. However, the procedure is still underway to determine the quality and reach a final decision on the quantity that will be exported,” the government source said, adding that the 10% royalty will be paid after quality determination.
“Once someone does a first export, the second will become much easier,” the source added.
Glencore declined to comment, and CMOC, ARECOMS, and Congo’s mines ministry did not immediately respond to requests for comment.
Exporters face complex procedures, including notifying authorities, preparing batches for sampling, and awaiting lab certification before royalties can be calculated and paid. Without proof of payment, cargo cannot move.
Reuters previously reported that Congo’s mining lobby has called for urgent talks to clarify legal ambiguities and compliance hurdles, warning that requirements such as 10% royalty prepayment within 48 hours and mandatory compliance certificates could delay exports and disrupt global battery supply chains.
Cobalt prices are currently trading around $24 a lb ($52,900 a ton), up from nine-year lows near $10 a lb in February when Congo suspended exports.
Don’t Miss This:
Fighting Resumes In Eastern Congo Hours After Trump-Brokered Peace Deal
Image Credit: Reuters
