Key facts
- The Democratic Republic of Congo has banned exports of copper and cobalt concentrates.
- The ban aims to increase domestic processing and revenue from mineral resources.
- The order was signed by the Mines, Foreign Trade, and Economy Ministers.
- A new tax regime for mining by-products has also been introduced.
- Export waivers can be granted for strategic reasons.
The Democratic Republic of Congo has implemented a ban on the export of copper and cobalt concentrates, a significant move aimed at boosting domestic processing and retaining greater value from its abundant mineral wealth. The prohibition, detailed in a government order dated June 29 and signed by the Mines, Foreign Trade, and Economy Ministers, takes immediate effect.
This measure is part of a broader strategy by the world's largest cobalt producer and second-largest copper supplier to increase revenue from its mining sector. Alongside the export ban, a new tax regime for economically significant mining by-products has been introduced, with a three-month transition period. The order also allows for the possibility of one-year export waivers under specific "strategic" circumstances, to be granted by the Mines Minister.
Major international mining companies operating in Congo include China's CMOC, Glencore, Huayou Cobalt, Zijin Mining, Ivanhoe Mines, and Eurasian Resources Group.