The Democratic Republic of Congo (DRC), the world’s largest cobalt producer, has extended its temporary suspension on cobalt exports by three months, the country’s strategic minerals regulator announced Saturday.

The extension responds to ongoing market oversupply that continues to depress cobalt prices, a crucial raw material for electric vehicle batteries.

The initial export ban, imposed in February for four months, was a reaction to a sharp price decline that sent cobalt to a nine-year low of $10 per pound.

That suspension was set to expire on Sunday June 22 but has now been prolonged by the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS).

In a statement, ARECOMS pointed to persistently high stock levels as the reason for maintaining the freeze: “The decision has been taken to extend the temporary suspension due to the continued high level of stock on the market.”

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ARECOMS indicated that it will issue another update before the new deadline in September, which may alter, renew, or end the export ban.

Meanwhile, Congolese officials are actively discussing how to implement cobalt export quotas for mining companies operating within the country, with allocation methods under careful consideration.

The proposed quota system has sparked division among industry leaders.

Glencore, the world’s second-largest cobalt producer, supports the introduction of quotas as a way to stabilize the market.

By contrast, China’s CMOC Group, the global leader in cobalt production, continues to push for a full lifting of the export ban.

The extended suspension underscores the DRC’s critical position in the global cobalt supply chain and its influence over market dynamics.

As September approaches, stakeholders and analysts are closely watching ARECOMS for indications of the country’s next move.

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