Glencore cuts cobalt output and shifts to copper under DR Congo quotas
Updated
Updated · Semafor · May 4
Glencore cuts cobalt output and shifts to copper under DR Congo quotas
9 articles · Updated · Semafor · May 4
The miner said Q1 2026 cobalt production fell to 5,800 tonnes, while copper output rose 19% as its Congolese operations worked within a 22,800-tonne export allowance.
Glencore is leaving some cobalt unprocessed or in the ground to avoid building material it cannot ship, while CMOC and ERG are also adjusting production strategies under the quota regime.
DR Congo, source of more than 70% of mined cobalt, imposed quotas after an export freeze to raise prices, curb illicit flows and strengthen state control over a key battery mineral.
With DRC and Zimbabwe tightening mineral controls, can African nations finally move up the battery value chain, or will foreign interests still dominate?
How might soaring cobalt prices and strict quotas reshape the global battery supply chain—will new producers or recycling fill the gap, or will shortages persist?
Could DRC's export quotas and strategic reserve spark a global cobalt shortage, and will this drive more black market activity or true local development?
Navigating DRC's Cobalt Quota: Glencore's Strategic Copper Boom and Cobalt Stockpiling in 2026
Overview
In Q1 2026, Glencore strategically shifted its focus in the Democratic Republic of Congo by prioritizing copper production, which surged 19%, while cobalt output fell 39% due to strict DRC export quotas limiting cobalt sales. These quotas, introduced in late 2025 after a 2024 export suspension, capped annual cobalt exports and required stockpiling of excess production, causing Glencore to build cobalt inventories domestically. The quota system helped drive a strong cobalt price recovery but exposed supply risks that impacted the electric vehicle industry and prompted global responses like battery innovation and supply diversification. Meanwhile, Glencore's integrated marketing arm offset challenges, supporting robust earnings despite rising input costs.