DRC Halts Cobalt Exports

Bloomberg reported that the government of the DRC has banned cobalt exports in an effort to force mining companies to add value to their shipments.

As quoted in the market report:

We want companies to export mineral products with great added value,” Kabwelulu said. Freeport-McMoRan Copper & Gold Inc. (FCX) must prove the cobalt hydroxide produced by its Tenke Fungurume Mining project is a “finished product” to avoid the ban, he said.

To view the whole Bloomberg report, click here.