DRC moves to monopolise about 25 percent of all cobalt exports

Via: Aljazeera

The Democratic Republic of Congo (DRC), the world’s biggest producer of cobalt, created a state monopoly that will buy all output not extracted by industrial operators in a bid to exert more control over the price of the key ingredient in rechargeable batteries. The central African nation dominates output of the metal, accounting for more than 70% of the global market in 2018. While most Congolese cobalt comes from large, mechanized mines operated by companies including Glencore Plc, artisanal miners can account for as much as a quarter of the nation’s output.

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