DRC Pushes Copper, Cobalt Export Ban Back to 2014

Bloomberg reported that the Democratic Republic of the Congo has delayed until next year a ban on the export of copper and cobalt concentrate. Originally, the ban was supposed to start this month.

As quoted in the market news:

The ban, which had been scheduled to start this month, is supposed to compel mining companies to process metals and minerals in Congo. Miners had complained that the country doesn’t generate adequate electricity to process all of its minerals and had asked for a delay.

‘The moratorium is until Dec. 31, 2013,’ Martin Kabwelulu, the mines minister, said in a mobile phone text message, without providing further details.

Click here to read the full Bloomberg report.