Congo establishes strategic reserve for cobalt exports
Congo created a strategic cobalt reserve to manage global supply and prices. The regulator will now acquire unused export quotas to bolster market control.
The Democratic Republic of the Congo has formally established a strategic reserve for cobalt and other essential minerals, according to the national minerals regulator. This initiative is designed to enhance the government's ability to stockpile unused export quotas and exert greater influence over global supply chains and pricing.
Under a cabinet decree adopted on April 10, the management of this strategic reserve has been assigned to ARECOMS, the national markets regulator. The agency is now empowered to acquire, hold, and trade strategic minerals. This move is particularly significant given that the country is the world's primary source of cobalt, a vital component for electric vehicle batteries, representing roughly 70% of global production last year.
