转自：新华财经 刚果（金）政府2025年2月宣布暂停钴出口，原定期限为4个月，后延长实施。政府当时表示，该措施旨在应对国际市场钴供应过剩导致的价格持续下行。 编辑：王菁 新华财经金沙萨12月31日电（记者史彧）据路透社12月31日报道，刚果（金）矿业监管机构表示，将允许2025年第四季度的钴出口配额延续至3月底，以 保障新配额制度平稳实施。 据刚果（金）披露的钴出口配额明细，洛阳钼业2025年四季度获得的钴出口配额达6650吨。12月24日，针对刚果（金）实施的钴出口配额制度，洛阳钼业 方面在接受采访时表示，公司正按照刚政府程序，落实各种出口安排。 报道称，在出口正式放行前，仍需完成包括装运、海关申报以及最终行政审批在内的多项程序。刚果（金）矿业监管机构同时表示，将研究企业就配额调 整提出的申请，但未透露是否已有相关请求提交。 报道援引刚果（金）矿业监管机构——战略矿产市场监管控制局（ARECOMS）发布的声明称，该机构已决定允许2025年第四季度核定的钴出口配额在 2026年3月31日前继续有效。此前，刚果（金）政府于今年10月16日正式启动钴出口配额制度，规定2025年全年钴出口总量上限为9.66万吨。 ...

Core Insights - Cobalt prices have surged past $50,000 per ton, primarily driven by strict supply controls from the Democratic Republic of Congo (DRC) [1] - The DRC, which accounts for approximately 70% of global cobalt production, has not resumed exports despite the expiration of an export ban [1][4] - A new quota system will replace the export ban, aiming to control supply and stabilize prices [2][5] Group 1: Cobalt Price Dynamics - Cobalt prices increased by $1,465 to $50,035 per ton on the London Metal Exchange [1] - The price rebounded significantly from a low of under $10 per pound earlier this year, marking a 92% increase since the export freeze in March [4] Group 2: Regulatory Changes - The new quota system allows for a maximum export of 18,125 tons of cobalt for the remainder of 2025, with annual limits of 96,600 tons for 2026 and 2027 [2] - The state-owned company, Entreprise Generale du Cobalt, holds the fourth-largest export quota, while major miners like CMOC and Glencore received the largest shares [2] Group 3: Export Process and Challenges - Mining companies are currently waiting for final instructions from regulatory authorities before resuming cobalt exports under the new quota system [3] - A strategic allocation of 10% of the total quota will be reserved for the regulatory body, which will determine its distribution [3]

Core Viewpoint - The implementation of an export quota system in the Democratic Republic of Congo (DRC) starting October 16, 2025, is expected to stabilize cobalt prices in the long term, positively impacting the company's performance [1] Group 1: Company Impact - The company is closely monitoring the distribution details of the export quota and is actively communicating with local regulatory authorities [1] - The company currently holds a safe inventory of cobalt raw materials, which positions it well for future operations [1] - If the company secures the necessary export quotas following the lifting of the cobalt export ban, combined with its capacity expansion and stable cobalt prices, it is likely to provide reliable support for overall performance [1] Group 2: Industry Context - The DRC's shift from a cobalt ban to an export quota system is a significant change that could influence the global cobalt market dynamics [1] - The future performance of the cobalt market will depend on the specific implementation details of the quota system [1]

Group 1 - The Democratic Republic of Congo (DRC) will lift its cobalt export ban starting October 16, transitioning to an annual export quota management system to regulate global supply [1][2] - The export cap for the remainder of 2025 is set at 18,125 tons, while the quotas for 2026 and 2027 are established at 96,600 tons per year [1][2] - DRC is the largest cobalt producer globally, accounting for approximately 70% of the world's supply last year [2] Group 2 - The export ban was initially implemented due to a significant drop in cobalt prices, which fell to a nine-year low, leading to major producers like Glencore and China Molybdenum facing force majeure [2] - The new quota policy aims to reduce inventory backlog and stabilize international cobalt prices, receiving support from Glencore but facing opposition from China Molybdenum [2] - 10% of cobalt production will be reserved for national strategic projects, and quotas may be adjusted based on market prices or local smelting capacity [3]

Core Insights - The Democratic Republic of Congo (DRC) has lifted its cobalt export ban that was in place since February, effective from October 15, allowing companies to export over 18,000 tons of cobalt for the remainder of the year [1] - An export quota system will be implemented starting October 16, with a maximum export volume of 96,600 tons per year for 2026 and 2027 [1] - Quotas will be allocated based on companies' historical export volumes, and 10% of the authorized export volume for 2026 and 2027 will be reserved for national strategic projects [1] - The regulatory authority retains the right to adjust overall quotas based on market trends or the prospects for local processing of cobalt hydroxide into higher value-added products [1]