Military-Backed Group Seizes 100 Million-Ton Congo Cobalt Tailings Site
Updated
Updated · Bloomberg · May 19
Military-Backed Group Seizes 100 Million-Ton Congo Cobalt Tailings Site
3 articles · Updated · Bloomberg · May 19
A military-backed group has taken over a large part of a major cobalt and copper tailings deposit near Kolwezi, according to Eurasian Resources Group, and is exploiting it on a near-industrial scale.
The seized area is part of a site where waste from more than a century of mining still contains billions of dollars' worth of metals, making the deposit highly attractive to armed operators.
ERG holds the rights to reprocess more than 100 million tons of the tailings, placing one of the world's top cobalt producers at the center of the disruption.
The takeover underscores growing security risks in the Democratic Republic of Congo's mining heartland, a critical source of global cobalt supply.
As the US challenges China's grip on Congolese cobalt, does this mine seizure reveal the true risks for all foreign investors?
With the DRC trying to control cobalt prices via quotas, how will this large-scale illegal mining disrupt the global market?
How can the DRC protect its vital cobalt mines when its new US-backed security force is still months away from deployment?
On May 19, 2026, a military-backed group seized ERG’s major cobalt site in Kolwezi, plunging the Democratic Republic of Congo into crisis. This event highlights the country’s persistent instability and the significant risks facing mining operations in a region exceptionally rich in resources like cobalt, copper, and gold. Cobalt’s importance for electric vehicle batteries makes control over these sites highly contentious and economically vital. The seizure directly challenges established mining operations and international investment, underlining the urgent security, governance, and humanitarian issues that continue to shape the DRC’s mineral sector.