Glencore to export cobalt according to its allocations in 2026-2027
The DRC lifted its cobalt export ban in Q4 2025, and introduced export quotas. The DRC is ramping up its quota systems and controls, however there were delays to exports initially intended for Q4 2025. The DRC has agreed that quotas unutilised in Q4 2025 can be used up to 31 March 2026. KCC and Mutanda did not export any cobalt in Q4 2025, with their 2025 quotas therefore available for use up to 31 March 2026. Glencore’s resulting expected cobalt export quotas are set out in the table below.
Glencore intends to export cobalt according to its allocations in 2026-2027. Given that the business has sufficient inventories to fully utilise its allocated quotas, copper production in the DRC will be prioritised over cobalt, where it makes commercial sense.
This strategy is expected to continue while the quotas are in effect. Cobalt in ore processed above sales quota levels, will either build as work in process inventory or be stored as final product in-country.
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, Glencore produces, processes, recycles, sources, markets and distributes the commodities that support decarbonisation while meeting the energy needs of today.
