Congo saw a big increase in cobalt production in the first quarter of 2018

The DRC produced 296,717 tonnes of copper in the first quarter of 2018, up 8.2 per cent from the same period last year, while cobalt production rose 34.4 per cent to 23,921 tonnes in the first quarter of 2018, the central bank said in a report. Global cobalt production was about 117,000 tons in 2017.

Cobalt prices have been high since 2016 amid concerns about a shortage of raw materials for batteries and expectations of strong demand from the electric car industry. Cobalt as an alloy is also growing in traditional applications in aircraft and turbines. The main source of risk is the democratic republic of Congo, which produces two-thirds of the world's cobalt. China's market share in cobalt production will continue to grow over the next five years as the country continues to invest in new cobalt mines. Cobalt production is also soaring in central Africa, as the Swiss commodities company Glencore refurbished its operations in the region.

But concerns about Congo's mining environment have not abated recently, with major mining companies vowing to take legal action against new mining regulations signed by President Joseph kabila in March. The new rules will be formally signed this week before they take effect. The government still shows no sign of giving in to industry.

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