The Democratic Republic of Congo, the source of about 70% of the world’s cobalt and the world’s second-largest copper producer, does not expect this year’s output of the critical minerals to suffer despite supply chain disruptions triggered by the recent conflict in the Middle East, a senior mining official told Reuters.
The reassurance is likely to calm concerns across global commodity markets after fears that disruptions to sulphuric acid supplies, a key chemical used to extract copper and cobalt from ore, could slow production in one of the world’s most strategically important mining jurisdictions.
The concerns emerged after the conflict between Iran and Israel disrupted regional supply chains, tightening the availability of sulphuric acid, while neighbouring Zambia, one of Congo’s principal suppliers, restricted exports to prioritise domestic mining companies.
The shortages prompted some miners in Congo to assess whether they might have to reduce production if supplies failed to improve.
But according to Grace Mabaya, a senior official at Congo’s Ministry of Mines, those fears have yet to materialise.
