Congo Seeks Outside Advice on Imposing Cobalt Export Curbs [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
measures to raise the battery metal's price, including through potential export quotas. It's the latest attempt by the country — which supplies about 75% of the world's cobalt — to try to gain greater control of crucial minerals. Cobalt prices have plunged by two-thirds since mid-2022 as global supply races ahead of demand. In a ministerial meeting in February, President Felix Tshisekedi bemoaned the slump caused by a glut amid excessive supplies from Congo. At that meeting, he asked then-Prime Minister Sama Lukonde to look at “the necessity of introducing export quotas” or any other steps to achieve a “fair price” for cobalt, with a regulatory body directed to help devise possible plans, minutes show. That body is now seeking views from overseas industry and research organizations about potential policies, according to people familiar with the matter who asked not to be identified. A proposal will be submitted to the next government being formed following Tshisekedi's re-electi
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