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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThe Democratic Republic of Congo (DRC) has put in place new obligations for cobalt exporters, according to a circular government consulted by Reuters. These measures could increase the complexity of the quota system recently introduced, while Kinshasa wants strengthen its control over this mineral, which is essential for electric batteries.
The new arrangements impose on mining companies a prepayment of 10% of the mining fee within 48 hours, as well as the prior obtaining of a certificate of conformity.
In October, the authorities lifted a ban of export in force for several months, replacing it with a mechanism of quotas intended to increase State revenues and to better regulate a sector representing more than 70% of global cobalt production.
However, no shipment has yet been made since the end of the moratorium. Producers are asking for details and are struggling to adapt to the new administrative requirements.
Dated on 26 November, the joint ministerial circular des Mines et des Finances details the procedures imposed on exporters
:This document must accompany all formalities
customs, alongside a dozen other administrative certificates. Les
new rules are applicable immediately and the cargoes will
systematically subject to physical inspections and control
multi-agency.
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