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DRC bans export of cobalt, copper concentrate – Fastmarkets

Kamoa-Kakula mining complex. (Image courtesy of Ivanhoe Mines).

Developing: Click here for an update on the DRC concentrate export ban

An order sent to miners in the Democratic Republic of Congo (DRC) on Wednesday has banned the export of copper and cobalt concentrate, according to Fastmarkets.

The data provider said it confirmed with three companies operating copper and cobalt mines in DRC that they all received the notice, signed by Bernard Bosele Pilipilithe provincial director of Customs and Excise in the Katanga province of DRC.

At present, the trucks carrying copper and cobalt concentrate could still pass through the border, and the effective date of the order is not mentioned, sources said. 

The order comes on the same week Ivanhoe Mines (TSX: IVN) announced the beginning of production of copper concentrate at its Kamoa-Kakula project in the DRC, months ahead of schedule as the metal continues to trade close to all-time highs.

Kakula, the first mine planned at the concession, is initially forecast to generate 3.8 million tonnes of ore a year at an average feed grade “well in excess of 6% copper” over the first five years of operation, the company said.