Group Copper
DRC copper/cobalt concentrate export ban pushed back to year-end, ministry says
(Minews) - The ban on exports of copper and cobalt concentrates from the DRC has been pushed back to December 31 2014, according to a ministerial notice signed on December 28 2013.

“The export of copper and cobalt concentrates is banned,” the notice, signed by mines minister Martin Kabwelulu, states.

“However, a moratorium until December 31, 2014 is granted to all mining operators producing copper and cobalt to comply,” the ministry said in the notice.

The decision was taken, according to the notice, in response to the continuing electricity constraints.

The ban, which had been due for implementation on January 1, had already been pushed back from an initial start date of July 2013, and replaced with increased taxes.

The DRC is the world’s biggest cobalt producer, and concerns about the ban pushed cobalt prices higher in Q2 2013.
Publish date : Thursday 16 January 2014 09:20
Story Code: 2364