Post #322

Stranger Things…. ❓ Parting with money is causing utter confusion among cobalt exporters in the DRC 🤷‍♂️ The Congolese Chamber of Mines — a major association of the country's mining companies — is complaining about ambiguities in the new quota system that the country introduced in October for cobalt exports. 💸 The main source of bewilderment for cobalt producers is the requirement to pre-pay a portion of royalties, which the new rules supposedly oblige them to do under the oversight of the regulator ARECOMS. 📉 However, the logic of the move is perfectly clear: after a February–October export ban, global prices jumped, and Kinshasa now wants to skim off as much revenue as possible. If royalties were collected the usual way — after shipment to Chine which takes 2-3 months — record prices might already fall by then. 💬 Naturally, exporters would prefer to pay taxes and duties based on lower prices at the moment of delivery — but Tshisekedi’s team also knows what it’s doing and will take its share while prices are high. Exporters will not resist for long. After all, 10% of royalties is not the kind of sum worth suffering losses from a complete halt in sales. ➡️ Follow to stay informed - @devilsbelow