CMOC (03993) fell more than 7% in afternoon trading, with a decline of 6.74% at the time of writing, trading at HK$17.86 and recording a turnover of HK$1.037 billion.

Market sources indicate that the Democratic Republic of Congo (DRC), the world's largest cobalt supplier, has introduced new cobalt export regulations, sparking widespread concern across the global mining and lithium battery supply chain.

Since replacing an export ban with a quota system in October, the DRC's additional temporary royalty requirements and complex procedures have further heightened uncertainty in the already strained cobalt supply chain. Cobalt prices had already doubled from their lows earlier this year.

The main point of contention in the new regulations revolves around the calculation details of export royalties. An anonymous mining executive revealed that the industry is puzzled by the 10% prepaid royalty calculation base—companies urgently seek clarity on whether this fee will deduct the transaction amount from the last export before the February ban, as this directly impacts their capital costs.

Starting October 16, the DRC implemented a cobalt export quota system requiring companies to prepay 10% of the sales value as royalties before shipment. However, the latest regulations have not clarified the calculation base, intensifying market caution.