London, August 6th (Argus) - Congo (DRC) has immediately banned the export of copper and cobalt concentrates, and market participants expect the impact on supply to be minimal. A trader estimates that Congo's concentrate exports in the first quarter were approximately 55,000 tons, containing about 19,000 tons of copper, indicating that concentrates currently account for a very small proportion of the country's copper exports.
The flagship project of Canadian Ivanhoe Mining Company, Kamoa-Kakula copper mine, produced 388,800 tons of copper concentrates in 2025, but since the start of the Kamoa-Kakula smelter, most of the copper produced in Congo (DRC) has been converted into 99.7% pure anode copper for export instead of being directly exported as concentrates. The impact of cobalt is negligible because most producers export cobalt hydroxide rather than copper concentrates. The government has not publicly confirmed this policy, but several market participants have stated that the industry is aware of the relevant restrictions and has targeted concentrates. This move seems to have more policy signaling significance. Since last year, Congo (DRC) has intervened in the cobalt market multiple times through measures such as suspending exports, implementing controls, and setting quotas, while also striving to increase its earnings from mineral extraction. Some market participants say this measure may be part of a larger effort to increase the value of exports, including those related to copper and cobalt production. Others believe it reminds market participants that Congo (DRC) is still willing to intervene in the commodity market.
