Democratic Republic of Congo’s cobalt export suspension may not have a long-term impact

The DRC is home to 54% of the world’s known reserves and accounts for more than 70% of worldwide cobalt supply. According to the United States Geological Survey (USGS), out of the 290,000 metric tons produced globally in 2024, 220,000 metric tons was produced in DRC.

The advent of electric vehicles has kept the demand for lithium-ion batteries growing for over the last decade. The battery supply chain industry, including cell manufacturing and battery materials, have witnessed huge investments leading to significant capacity buildup across several regions globally.