Glencore expects DRC cobalt exports to normalise in line with 2026 quotas

Thu, 30th Apr 2026 12:54

LONDON, April 30 (Reuters) - London-listed miner Glencore said on Thursday ⁠it expects cobalt exports from the Democratic Republic of Congo to normalise over the course of the year, in line with ‌remaining 2026 quotas.

Congo's government suspended exports in February last year to support ⁠cobalt prices which had dropped to nine-year ⁠lows. The suspension remained in place until Congo introduced export quotas last October. Cobalt metal prices OCBc1 have increased 160% since February 2025 to $26 a lb or $57,320 a metric ton due to ‌shortages created by Congo's move to restrict exports.

* Glencore's quota for 2026 and the allocation carried over from 2025 is 22,800 tons.

* Glencore overall produced 5,800 tons of cobalt in the first quarter of 2026, down 39% from the same period last year.

* The quota ‌system for DRC cobalt exports will apply until at least the end of 2027, the miner and ‌commodity trader said in its first-quarter production report.

* Cobalt produced at its Kamoto Copper Company (KCC) and Mutanda operations above allocated quotas is being stored in-country and will be sold as circumstances allow.

* Glencore said it is postponing final ‌cobalt processing to avoid costs while export limits restrict sales.

* KCC and Mutanda have sufficient cobalt inventories on hand to utilise their near-term export quotas.

* ⁠Glencore ⁠added the DRC government extended the validity ‌of producers’ 2025 cobalt export quotas to April 2026 to allow for the time required to implement the new export processes.

* During the first quarter, the ‌company exported most of its 2025 quota, with the balance shipped in April. Unused first-quarter 2026 quotas remain valid until the end of June. (Reporting by Pratima Desai; editing by Keith Weir )