Congo Suspends Cobalt Shipments as Global Market Faces Turmoil
The Democratic Republic of Congo (DRC), a nation rich in mineral resources, has made the significant decision to extend its temporary suspension on cobalt exports by an additional three months. This announcement, made on Saturday by the DRC’s strategic minerals regulator, underscores the complexities and challenges faced by a country that is a linchpin in the global cobalt market.
But what led to this extension? The answer lies in the ongoing oversupply of cobalt, a crucial ingredient in electric vehicle batteries and…