The Democratic Republic of Congo (DRC), the world’s leading cobalt producer, has lifted its 10-month export ban on the critical battery metal, resuming shipments.

Finance Minister Doudou Fwamba says the suspension achieved its goal of countering global oversupply and stabilising prices, which rose from about $22,000 to $54,000–$55,000 per tonne during the period.

The ban, initially set for four months beginning in February 2025 but later extended, was framed as a move to assert “national sovereignty over raw materials” amid falling prices driven largely by abundant supply from Chinese mining giant CMOC’s Tenke Fungurume and Kisanfu operations. Fwamba acknowledged the country lost fiscal revenue due to the systematic decline in prices but argued the strategy, overseen by state regulator ARECOMS, succeeded in restoring balance to the market.

The DRC accounts for roughly 76% of global cobalt output (2024 USGS data), a resource essential for high-end batteries used in smartphones and electric vehicles. Despite its mineral wealth, the country remains among the least developed, with extraction often linked to conflict, corruption, smuggling, and human rights abuses—particularly in artisanal mining, which contributes 3–5% of production.

While the ban targeted oversupply, it also shielded the DRC from instability in the east, where groups like the M23 militia operate in the Kivu provinces. Most of the country’s major mines are located in the southeastern Katanga region.

The resumption of exports signals confidence in price recovery but underscores the ongoing challenge of balancing fiscal revenue, development needs, and ethical sourcing in the midst of the global electric vehicle boom.