Congo gathers samples for CMOC’s first export of cobalt, according to sources

Democratic Republic of Congo has initiated the collection of samples in anticipation of the first cobalt shipment from Chinese company CMOC (603993.SS) under a new quota system, which is expected to occur in the coming days, according to two government sources who spoke to Reuters.

Congo is responsible for over 70% of the world’s mined cobalt production, which analysts estimate to be approximately 280,000 metric tons this year. However, a has caused cobalt prices to rise significantly and has tightened the supply of the metal essential for electric vehicles.

The recently launched system on October 16 has set a quota of 18,125 metric tons for the fourth quarter and will limit annual exports to 96,600 tons starting in 2026.

This month, Reuters reported that Glencore (GLEN.L) would be the first miner to export cobalt under the new quotas, sending a small initial shipment to test the system.

CMOC and Glencore, the two largest cobalt-producing companies globally, received the most significant allocations. CMOC’s allocation for the fourth quarter stands at 6,650 tons, while Glencore’s is set at 3,925 tons.

The two government sources did not reveal the volume or specific timing of the initial shipment by CMOC’s Tenke Fungurume Mining.

A representative from Tenke Fungurume Mining has confirmed that sampling has commenced; however, shipments are expected to begin in January. A source indicated that it would be a minor shipment falling within the 2025 quota.

According to sources from the Congolese government, CMOC will also pay a 10% royalty, similar to Glencore.

“We are presently at the site visit phase to gather samples and enable sampling prior to progressing to the next stage,” one of the sources stated, noting that CMOC’s export request has already been submitted.

The source indicated that the sample results “arrive in three or four days… then loading begins.”

On Monday, CMOC spokesperson Vincent Zhou stated that the company has “already implemented a range of export arrangements in accordance with the procedures of the Congolese government,” though he did not provide further details.

According to previous reports from Reuters, the mining lobby in the country has urged for immediate discussions to address legal uncertainties and compliance challenges.

The new requirements, which include a 10% royalty prepayment within 48 hours and a compliance certificate prior to any cargo movement, may lead to delays in exports and disrupt global battery supply chains.

At the end of last week, representatives from Congo’s Chamber of Mines and the mining ministry convened in Kinshasa to address various concerns. According to two attendees, the meeting did not yield significant progress.