The Democratic Republic of Congo banned copper and cobalt concentrate exports effective June 29, 2026, with the announcement made public on August 6, 2026. Copper prices on the London Metal Exchange jumped 1.8% to $14,369.50 per tonne, the highest level since January 2026. In Q1 2026, the country exported 696,725 tonnes of refined copper cathodes against just 53,926 tonnes of concentrates, with the Kamoa-Kakula project particularly exposed. One-year waivers are available on a case-by-case basis, and this measure marks the fourth iteration of concentrate export restrictions since 2013, following a six-month cobalt export suspension from February to October 2025. The DRC controls more than 70% of global cobalt production and is Africa’s largest copper producer.
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