back DRC Delays Copper, Cobalt Export Ban Once Again | Cobalt Investing News
January 9, 2014 | Category: Cobalt News
As 2013 drew to a close, the big news in the cobalt sector was that the start date of the Democratic Republic of the Congo's (DRC) ban on the export of copper and cobalt concentrate had been moved to December 31, 2014. It was supposed to come into effect on January 1.
"The export of copper and cobalt concentrates is banned," Metal Bulletin quotes a notice signed by mines minister Martin Kabwelulu as saying, "However, a moratorium until December 31, 2014 is granted to all mining operators producing copper and cobalt to comply."
The delay is a response to ongoing electricity constraints in the DRC, information that will likely be unsurprising to cobalt market participants. Since the ban's announcement, skeptics have argued that the country simply does not have enough electricity to run the refining and processing equipment that the ban's implementation calls for.
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DRC Delays Copper, Cobalt Export Ban Once Again 