The Democratic Republic of Congo's main cobalt producers fear losing some of their export quotas due to an administrative malfunction affecting a customs platform. According to industry officials and a document seen by Reuters, this situation could disrupt exports from the world's leading producer of this strategic metal.
Since July 1st, the platform responsible for registering export declarations has reportedly stopped processing applications, preventing affected companies from having their shipments validated. This blockage comes as new rules stipulate the elimination of export quotas that have not been used within the allotted timeframe.
Faced with this situation, several mining companies, including CMOC, have asked the Congolese authorities to extend the validity period of the quotas to avoid significant losses. The producers believe this administrative problem is beyond their control and risks penalizing the entire sector.
According to an industry source, up to 20,000 tons of cobalt could go unexported this year if a solution isn't found quickly. Cobalt is a crucial metal in the manufacture of batteries used in electric vehicles, making the Democratic Republic of Congo a key player in the global supply chain.
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