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DRC Lifts Final Hurdle to Restart Cobalt Exports

DRC Lifts Final Hurdle to Restart Cobalt Exports

Cobalt exports can now resume in the Democratic Republic of Congo. Earlier today, the government published the joint Mines and Finance ministry decree that sets out the practical rules for exporting cobalt. Until the document was released, shipments could not restart even though the export embargo had been lifted on Oct. 15.

Mining companies had grown frustrated by the delay. “I just came from a meeting with Gécamines. We are being told we must wait for an inter-ministerial decree. When will it be available, and what is the legal basis for it?” asked John Woto, deputy managing director of Tenke Fungurume Mining (TFM), during a mining session at the Makutano Forum on Nov. 25.

In response, Mines Minister Louis Watum Kabamba said exports should have resumed during the week of Nov. 24 to 30. He explained that the delay stemmed from updating the procedures manual to reflect new requirements introduced by the Strategic Minerals Market Regulator (ARECOMS), including the prepayment of certain royalties.

We needed to coordinate between the Mines and Finance ministries to incorporate these new requirements. That is what took time. Last week, we carried out a full-scale test of an export with all the relevant agencies. To my knowledge, exports should resume this week,” he said, adding that he would ensure the decree formalizing the new procedure was signed.

The decree released on Tuesday had been signed by the mines minister on Nov. 26. According to a member of the FEC Chamber of Mines, the process had been waiting on the finance minister’s signature.

With the publication of the decree, cobalt exports can now restart. However, the first shipment is unlikely to leave the country until the end of the month, as the export process takes several weeks.

Pierre Mukoko

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