The government of the Democratic Republic of the Congo (DRC) signed a new decree on June 29, prohibiting the export of unprocessed copper and cobalt ores, which came into immediate effect. The Congolese government aims to promote domestic processing of minerals by restricting raw material exports, thereby increasing value-added and keeping more mining revenues within the country.
The decree was jointly signed by the Minister of Mines of the Congo, Louis Kabamba Watum, the Minister of Foreign Trade, Julien Paluku Kahongya, and the Minister of Economy, Daniel Mukoko Samba.
Following the disclosure of this export ban by Reuters on August 6, the market began to focus on mineral supply and price changes. The three-month futures price of copper on the London Metal Exchange (LME) briefly rose by 1.8% to $14,369.50 per ton, reaching its highest level since January 29 when copper prices hit a historical peak of $14,527.50. As of 9:30 AM Greenwich Mean Time (GMT), copper was trading at $14,300 per ton.
However, the new regulation allows the Minister of Mines to approve export exemptions for up to one year in special “strategic” circumstances.
In addition, the Congolese government has introduced a new tax system on mining by-products, taxing economically valuable associated minerals recovered during mining and smelting processes, with a three-month transition period.
The Congo is the world’s largest supplier of cobalt and a major copper producer. The new tax system levies taxes on trace and ultra-trace elements recovered during the refining process, using a valuation coefficient of 55%, and collects mining royalties alongside the primary minerals.
Congo had previously issued similar export bans on copper and cobalt ores in 2013, 2019, and 2023, but due to insufficient domestic smelting capacity, some enterprises were later granted export exemptions.
The new decree issued on June 29, 2026, supersedes and replaces the regulations from 2023.
According to official data, the majority of copper exported from Congo is already refined metal. In the first quarter of 2026, Congo exported 696,725 tons of refined copper cathodes, while the export volume of unprocessed copper ores was 53,926 tons, including 18,863 tons of metallic copper.
Christian-Geraud Neema, a mining analyst from the non-profit organization “China-Global South Project,” stated that as most copper and cobalt in Congo have already been refined domestically, this ban is unlikely to severely impact most operators.
He noted that the Kamoa-Kakula copper mine joint venture, owned by Canada’s Ivanhoe Mines, China’s Zijin Mining, and the Congolese government, is more likely to be affected, as it is currently exporting some refined ores through exemption clauses.