Congo halts copper and cobalt exports

The Democratic Republic of the Congo has imposed a ban on the export of copper and cobalt concentrates in order to promote local manufacturing and increase the added value of the mining sector, with the aim of processing minerals domestically rather than exporting raw materials. This decision, which took effect immediately, also seeks to encourage companies to market and export higher value-added metal products. It includes a new tax system and the reduction of previous exemptions. Following the announcement, copper prices rose to their highest levels since January, reaching $14,369.50 per ton, partly as a result of this decision, which reflects the country's move toward processing minerals locally. It is worth noting that the majority of copper and cobalt production in Congo is currently processed within the country.

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