DR Congo bans copper and cobalt concentrate exports to boost domestic smelting

The Democratic Republic of Congo has banned the export of copper and cobalt concentrates, accelerating national efforts to enforce in-country mineral processing and retain greater economic value from its natural resources.

The ministerial decree, signed by Mines Minister Louis Kabamba Watum, Foreign Trade Minister Julien Paluku Kahongya, and Economy Minister Daniel Mukoko Samba, takes effect immediately.

The regulation revokes a previous 2023 framework and its associated exemptions, replacing them with a comprehensive structure governing mineral exports alongside a new tax regime on mining by-products.

Following news of the export ban, benchmark three-month copper on the London Metal Exchange rose by up to 1.8 per cent to $14,369.50 per metric ton, approaching historic record highs.

While the prohibition is absolute, the decree allows for temporary one-year waivers under specific strategic circumstances. Major mining operators, including Ivanhoe Mines, which runs the Kamoa-Kakula copper complex in partnership with Zijin Mining,indicated that domestic processing facilities, such as the on-site smelter and the Lualaba copper smelter in Kolwezi, process the majority of local yields.

Analysts note that because the vast majority of Congolese copper and cobalt is already refined locally into cathodes and hydroxides prior to shipment, the new policy primarily aims to eliminate remaining concentrate exports while standardising royalty collections across trace mineral by-products.