Authorities in the Democratic Republic of the Congo have extended the temporary ban on cobalt export for an additional three months starting June 21, according to a communiqué from the country's Ministry of Mining.
"On June 21, the Board of Directors of the Agency for Regulation and Control of Strategic Mineral Markets (ARECOMS) decided to extend the suspension of cobalt exports from the DRC <…> for a period of three months from the effective date of this decision, due to the large stocks still present in the market," the communiqué states.
Additionally, the Ministry noted that by the end of this period, ARECOMS may issue a new decision that could "alter, extend, or terminate, if necessary," the export ban.
In February, DRC authorities announced that the country had halted cobalt exports for four months due to an oversupply of the metal on the international market.
Anna Bespalova
