African Continent's Key Minerals: China's Luoyang Molybdenum (CMOC) reported a 3% increase in its cobalt production in the Democratic Republic of Congo
Production from January to September reached 87,974 tons
New export quotas face the mines in the Democratic Republic of Congo
2025 production forecast was downgraded due to market control and concerns over supply surplus
According to the operational report released by the Chinese mining company Luoyang Molybdenum Group on Friday, October 24, its cobalt production from January to September 2025 reached 87,974 tons, an increase of 3% compared to the same period in 2024.
All of this cobalt production came from the Kisanfu and Tenke-Fungurume mines located in the Democratic Republic of Congo (DRC), which also produce copper as their main product. This performance reflects strong mining activities since the beginning of the year; Luoyang Molybdenum had previously announced that its cobalt production increased by 13% in the first half of the year, reaching 61,073 tons.
The document states: "In the third quarter of 2025, the company completed its planned targets for the main products, laying a solid foundation for completing the annual target." Luoyang Molybdenum expects total cobalt production for 2025 to be between 100,000 and 120,000 tons, lower than the 114,200 tons reported last year. The performance in the fourth quarter will be key to achieving these revised forecasts.
Despite the strong production momentum, this Chinese group still faces restrictions on exporting cobalt from the Democratic Republic of Congo. The Congolese authorities implemented an export ban in March to stabilize the market price of excess supply, but this ban was replaced by a quota system in mid-October. According to this new regulation, Luoyang Molybdenum can only transport 6,500 tons of cobalt from this Central African country for the remainder of 2025.
Source: ecofinagency
Original: www.toutiao.com/article/1847184474255372/
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