- Chinese mining giant CMOC reported a 13 per cent rise in cobalt production at its Democratic Republic of Congo (DRC) mines during the first half of 2025.
- However, CMOC has not been able to ship cobalt since Kinshasa imposed an export ban in March to stabilise global prices amid oversupply.
Chinese mining giant CMOC reported a 13 per cent rise in cobalt production at its Democratic Republic of Congo (DRC) mines during the first half of 2025. The company extracted 61,073 tonnes of cobalt from its Tenke-Fungurume and Kisanfu sites, a significant increase from the same period in 2024.
This growth follows a 20 per cent jump in production during the first quarter, when CMOC produced 30,414 tonnes. The company attributed higher output to price increases in its key minerals. Alongside cobalt, CMOC also produces copper at both mines, with cobalt as a by-product.
However, CMOC has not been able to ship cobalt since Kinshasa imposed an export ban in March to stabilise global prices amid oversupply. Authorities extended this embargo for another three months, until September.
Cobalt prices surged about 50 per cent, reaching $33,000 per tonne on the London Metal Exchange, up from $21,000 in February. CMOC’s trading arm, IXM, declared force majeure on cobalt delivery contracts shortly after the ban extension.
Despite these hurdles, CMOC expects cobalt production for 2025 to total between 100,000 and 120,000 tonnes. As the world’s top cobalt miner since 2023, CMOC now faces the challenge of maintaining momentum in production while navigating unpredictable export rules.