CMOC (SHA:603993, HKG:3993) called on the Democratic Republic of Congo (DRC) to lift an export ban on cobalt expiring on June 22, Reuters reported Wednesday, citing three unnamed sources.

CMOC Vice President Kenny Ives told delegates at a closed-door meeting in Singapore that the DRC should lift the export ban on cobalt, a key ingredient for electric vehicle batteries, as its stockpiles in China are already running out, the report said.

DRC Mines Minister Kizito Pakabomba was in attendance, Reuters said, citing sources.

DRC implemented a four-month ban on cobalt exports to reduce surpluses as prices reached $10 per pound or $22,000 per metric ton, a nine-year low, the report said.

The country has not been clear about its next steps after the ban's expiry, with the government mulling an extension and export quotas, according to the news agency, citing sources in February.

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