Crisis hits top cobalt producer

The Congo's digital customs platform experienced a technical malfunction, which impedes the registration and reporting of exporting companies producing cobalt. This poses a risk of losing shipments valued at approximately $1.1 billion, amounting to about 20,000 metric tons of the vital metal used in electric vehicle batteries. Companies operating in the sector are facing difficulties in meeting specified deadlines, amid calls for an extension of the deadline and government intervention. Since early July, export restrictions have been imposed, potentially affecting the global market supply. Congo is the largest exporter of cobalt, accounting for 70% of the world's supply, and this crisis plays a significant role in the strategic minerals and clean energy markets.

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