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

Glencore, the London-listed mining and commodity trading firm, said on Thursday that it expects cobalt exports from the Democratic Republic of Congo (DRC) to return to normal levels over the course of the year, consistent with the remaining 2026 export quotas.

The DRC government suspended cobalt exports in February last year in an effort to prop up prices, which had fallen to nine-year lows. The suspension remained in place until October, when Congo introduced an export quota system.

Since then, cobalt metal prices have surged 160% from February 2025 to $26 per pound ($57,320 per metric ton), driven by supply shortages resulting from Congo's export restrictions.

Glencore's combined quota for 2026, including carryover from 2025, stands at 22,800 tons.

In the first quarter of 2026, Glencore produced 5,800 tons of cobalt --- a 39% drop compared to the same period last year.

According to the company's first-quarter production report, the DRC's quota system for cobalt exports will remain in effect until at least the end of 2027.

Cobalt produced at Glencore's Kamoto Copper Company (KCC) and Mutanda operations that exceeds allocated quotas is being stockpiled in the DRC and will be sold when circumstances permit.

Glencore said it is postponing final cobalt processing to avoid incurring costs while export limits continue to restrict sales. It added that KCC and Mutanda hold sufficient cobalt inventories to make use of their near-term export quotas.