Congo’s cobalt conundrum

Cobalt is a critical component of green technologies like battery electrodes and the magnets in electric motors and wind turbines. Changes in demand relating to these technologies has exposed vulnerabilities in cobalt supplies, with prices fluctuating wildly. The Democratic Republic of Congo (DRC) produces over 70% of the world’s cobalt, and in February 2025 the DRC initiated a four-month export ban, aiming to boost prices, then later introduced export quotas to manage pricing effectively.