Congo bans copper and cobalt concentrate exports, pushing for domestic processing

The Democratic Republic of Congo just made a significant move in its long-running effort to capture more value from its own ground. Effective June 29, 2026, the DRC issued a government order banning the export of copper and cobalt concentrates, with the announcement going public on August 6, 2026. Copper markets responded immediately. Prices on the London Metal Exchange climbed 1.8%, reaching $14,369.50 per tonne, the highest level since January 2026. What the ban actually covers In Q1 2026, the country exported 696,725 tonnes of refined copper cathodes compared to just 53,926 tonnes of concentrates. That gap means the near-term supply disruption from this ban is limited, at least on paper. Still, certain operations face real exposure. Kamoa-Kakula, one of the DRC’s most significant copper projects, has been exporting concentrates under previous exemptions. Those arrangements are now under pressure. One-year waivers are available on a case-by-case basis under the new framework. The order also introduces new taxation rules covering mining by-products, tightening the regulatory environment around extraction more broadly. This is not the DRC’s first attempt at this The DRC has been do...