Cobalt Producers Urge DRC to Lift Ban, Cite Country’s Inadequate Electricity Supply

Bloomberg reported that cobalt producers are urging the DRC government to lift a ban on cobalt exports. According the cobalt producers, there is not the proper infrastructure in place, including electricity to support this initiative.

As quoted in the market report:

Congo was the world’s eighth-largest producer of copper and the biggest producer of cobalt last year, according to the U.S. Geological Survey. It also holds gold, diamonds and tin. Besides power shortages, a lack of infrastructure and legal insecurity hamper investment and will undermine the government’s plans to change its mining code, which include raising taxes and boosting its share of new mining ventures, executives said today.

To view the whole Bloomberg report, click here.