The Democratic Republic of Congo (DRC), the world's largest producer of cobalt, has introduced export restrictions and quotas to stabilize prices and boost revenue. Cobalt is a key component in rechargeable batteries, especially those used in electric vehicles. By controlling how much cobalt is exported, the DRC hopes to encourage industries to explore alternatives, such as batteries that do not require the metal. However, the DRC must also ensure it does not lose market access by imposing too strict a policy. Despite these measures, global demand for cobalt is expected to grow, driven largely by the expanding electric vehicle industry. Benchmark Mineral Intelligence predicts that cobalt consumption will increase by 8% in 2026 and by another 2.5% in 2027. This is largely due to the rising production and sales of electric vehicles, which rely heavily on cobalt-containing batteries. These projections come after the DRC imposed an export ban in February 2025, which was later replaced by export quotas in October of the same year. The restrictions were introduced in response to concerns over falling prices and the need to secure higher revenues from the country’s rich cobalt reserves. Chinese companies, including CMOC and Jinchuan International, have raised concerns about the impact of these restrictions. They argue that the policies may speed up the shift toward lithium-iron-phosphate (LFP) batteries, which do not use cobalt. According to the International Energy Agency (IEA), LFP batteries made up 55% of the battery capacities sold for electric vehicles in 2025, compared to less than half in 2024. This shift is partly due to high cobalt and nickel prices in 2021-2022, but the IEA also notes that demand for cobalt-containing batteries is expected to rise as the electric vehicle market expands. Cobalt prices have fluctuated in recent months. In September 2026, cobalt hydroxide delivered to China was valued at $15.70 per pound, compared to $5.80 at the start of 2025. However, this price was lower than the peak of $26 reached earlier in 2026. While prices remain above pre-restriction levels, they have not followed a consistent upward trend. The long-term success of the quotas will depend on how well the DRC can balance price control, export volumes, and revenue generation. Additionally, changes in the market share of different battery technologies will play a key role in shaping the future of the cobalt industry.