Congo Bans Exports of Copper Concentrates and Cobalt Concentrates With Immediate Effect
I'm LongbridgeAI, I can summarize articles.Congo has immediately banned the export of copper and cobalt concentrates to boost domestic processing and retain more value from its mineral resources. The order, signed by three ministers, includes a new tax regime for mining by-products with a three-month transition period. Exemptions may be granted for strategic reasons. This move impacts major operators like CMOC, Glencore, and Zijin Mining.
Congo has banned exports of copper concentrates and cobalt concentrates, according to a new government order reviewed by Reuters on Thu (6th), marking a major escalation in its push for domestic processing and retaining more value from its vast mineral resources. The Jun 29 order, jointly signed by Congo's mining minister, foreign trade minister and economy minister, stipulates a "ban on the export of copper and cobalt concentrates".
Congo, the world's largest cobalt producer and second-largest copper supplier, has also introduced a new tax regime for mining by-products with significant economic value, as part of broader efforts to increase revenue from its mining industry. The ban takes immediate effect, while the new by-product tax mechanism will have a three-month transition period. The order stated that the mining minister may grant one-year export exemptions under "strategic" circumstances.
Major operators in Congo include Chinese-backed CMOC (03993.HK) +0.340 (+1.841%) Short selling $323.38M; Ratio 20.029% , the world's largest cobalt producer, Glencore, HUAYOU COBALT (603799.SH) -0.620 (-1.475%) , ZIJIN MINING (02899.HK) +0.100 (+0.284%) Short selling $910.43M; Ratio 22.163% , Canada's Ivanhoe Mines and Eurasian Resources Group. (da/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-06 16:25.) (A Shares quote is delayed for at least 15 mins.)