DRC to suspend cobalt exports for 4 months

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Excavators and drillers work at one of the world's largest copper and cobalt deposits, Tenke Fungurume, in Congo on January 29, 2013. 

Photo credit: Reuters

The Democratic Republic of the Congo (DRC) has announced a four-month suspension of cobalt exports to regulate supply amid concerns of overproduction in the global market, authorities said Monday.

In a statement, the DRC's Regulatory and Oversight Authority for Strategic Mineral Substances Markets (Arecoms), a public body under the Ministry of Mines, said that the suspension applies to all mining operations, including industrial, semi-industrial, artisanal, and small-scale production.