The Democratic Republic of Congo (DRC) — the world’s leading producer of cobalt and Africa’s biggest copper producer — has made good on a longstanding threat to ban cobalt and copper concentrate exports.

In 2013, the DRC banned concentrate exports  to encourage miners to process and refine ore in the country, but insufficient smelting capacity forced it to repeatedly issue ‘waivers’.

However, threat of its future enforcement has been maintained.

In 2019, the government implemented the concentrate ban for just one month before lifting it, saying the waiver would be reviewed every six months.

Its looks like those waivers have not been extended.

Fastmarkets confirmed with three companies operating copper and cobalt mines in DRC that they all received a notice banning concentrate exports.

At present, the trucks carrying copper and cobalt concentrate could still pass through the border, and the effective date of the order is not mentioned, sources told Fastmarkets.

Recent concerns around global copper supply – which could be further hampered by today’s ban, if enforced – have pushed the price up to $US10,032.65/t, close to all-time highs.

Pic: Copper prices over the past 10 years.

 

Here’s how ASX-listed copper-facing stocks are performing:

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CODE COMPANY 1 DAY RETURN % 1 WEEK RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
ALY Alchemy Resources 27 6 6 39 0.019 $ 10,083,651.80
TAR Taruga Minerals 11 27 110 708 0.105 $ 48,020,268.07
IVR Investigator Res 10 20 93 588 0.11 $ 132,394,660.70
LEX Lefroy Exploration 10 42 515 530 1.26 $ 138,011,117.05
GED Golden Deeps 9 20 -20 100 0.012 $ 8,523,365.84
MEP Minotaur Exploration 9 0 -31 161 0.12 $ 55,147,306.28
HMX Hammer Metals 7 6 184 320 0.105 $ 79,051,946.86
CVV Caravel Minerals 6 33 502 1900 0.5 $ 163,391,699.11
OAR OAR Resources 6 55 -26 750 0.017 $ 25,912,807.04
STM Sunstone Metals 6 0 29 157 0.018 $ 37,569,789.98
C6C Copper Mountain 6 2 203 748 4.58 $ 72,599,577.18
OZL OZ Minerals 5 1 56 165 25.42 $ 8,067,071,783.13
RVR Red River Resources 5 2 -17 255 0.22 $ 108,732,617.07
CCZ Castillo Copper 5 0 -4 100 0.046 $ 44,851,708.31
AQD Ausquest Limited 4 14 33 85 0.024 $ 18,933,366.11
AQI Alicanto Min 4 -4 -14 46 0.12 $ 37,704,758.02
MLX Metals X Limited 4 4 201 184 0.25 $ 217,743,856.08
IGO IGO Limited 4 4 60 52 7.6 $ 5,528,055,034.90
HAV Havilah Resources 4 -5 53 174 0.26 $ 76,569,307.00
RIO Rio Tinto Limited 4 1 22 36 124.61 $ 44,497,687,572.18
AML Aeon Metals . 4 19 -36 -7 0.083 $ 54,205,578.16
AZS Azure Minerals 4 11 -70 221 0.295 $ 87,804,430.49
AQX Alice Queen 3 3 -45 -38 0.0155 $ 18,548,799.68
SFR Sandfire Resources 3 -1 61 54 7.16 $ 1,235,281,737.69
CYM Cyprium Metals 3 -6 41 132 0.325 $ 172,799,302.41
BHP BHP Group Limited 3 0 24 40 48.16 $ 137,865,845,239.20
ORN Orion Minerals 3 3 33 125 0.036 $ 144,375,450.80
REE Rarex Limited 3 4 -30 53 0.0905 $ 38,231,001.95
HCH Hot Chili 3 3 -22 153 0.038 $ 114,181,808.82
AOU Auroch Minerals 3 -7 22 200 0.195 $ 52,920,332.16
VXR Venturex Resources 3 -2 410 1097 0.79 $ 327,337,659.88
BAT Battery Minerals 2 5 -5 223 0.021 $ 41,846,107.59
AZY Antipa Minerals 2 0 -2 77 0.046 $ 139,332,543.21
RCP Redbank Copper 2 -5 19 400 0.095 $ 47,955,517.89
CNJ Conico 2 -3 -22 222 0.029 $ 25,403,960.67
HGO Hillgrove Res 2 -7 58 104 0.062 $ 57,155,132.24
KGL KGL Resources 1 -3 152 337 0.7 $ 270,697,358.28
BYH Bryah Resources 1 13 12 48 0.077 $ 11,973,078.61
RXM Rex Minerals Limited 1 -15 175 413 0.385 $ 160,481,949.60
SGQ St George Min 1 -2 -35 -19 0.081 $ 47,135,274.96
NWC New World Resources 1 -9 71 638 0.096 $ 138,102,294.96
QML Qmines Limited 0 23 0.48 $ 22,120,207.68
TRN Torrens Mining 0 4 0.14 $ 9,503,821.18
TTM Titan Minerals 0 -8 0 46 0.115 $ 131,037,029.91
IPT Impact Minerals 0 7 -27 14 0.016 $ 32,380,718.70
DEX Duke Exploration 0 8 14 0.415 $ 25,039,859.57
MBK Metal Bank 0 0 0 28 0.011 $ 13,029,591.34
CBY Canterbury Resources 0 8 -3 39 0.097 $ 10,850,924.11
GMN Gold Mountain 0 0 -7 -26 0.04 $ 30,708,996.96
AUQ Alara Resources 0 0 -17 15 0.015 $ 10,581,438.59
ERM Emmerson Resources 0 11 4 -30 0.08 $ 39,859,079.12
SRI Sipa Resources 0 4 -20 12 0.057 $ 10,136,158.84
AKN Auking Mining 0 0 0 0 0.4 $ 1,865,279.60
ATM Aneka Tambang 0 0 0 0 1 $ 1,303,649.00
MCB MCB Resources 0 -100 -100 -100 0 $ 1,798,548.64
SVY Stavely Minerals 0 -2 -34 4 0.59 $ 153,967,256.68
DGR DGR Global 0 3 -19 10 0.062 $ 60,485,881.07
A1M Aic Mines 0 5 -26 -9 0.29 $ 19,927,355.22
AMG Ausmex Mining Gp 0 7 26 23 0.049 $ 27,160,493.17
CWX Carawine Resources 0 -6 0 32 0.25 $ 27,222,475.50
PEX Peel Mining Limited 0 13 55 142 0.34 $ 142,153,237.38
GRL Godolphin Resources 0 -11 -31 -11 0.17 $ 14,298,771.74
ENR Encounter Resources 0 44 15 44 0.195 $ 61,534,922.09
BOA Boadicea Resources 0 -5 31 58 0.3 $ 18,643,723.80
FNT Frontier Resources 0 -13 17 56 0.014 $ 6,847,427.13
NML Navarre Minerals 0 -12 -47 -28 0.115 $ 62,817,847.37
TAS Tasman Resources 0 3 -10 10 0.037 $ 24,832,633.84
SUH Southern Hem Min 0 13 36 479 0.043 $ 10,510,909.55
MAU Magnetic Resources 0 6 28 23 1.475 $ 321,584,647.75
CAE Cannindah Resources 0 -6 118 663 0.061 $ 31,651,800.84
SCI Silver City Minerals 0 9 100 118 0.036 $ 19,928,811.71
CHK Cohiba Min 0 0 -11 100 0.016 $ 22,263,412.05
GTE Great Western Exp. 0 14 -22 203 0.16 $ 21,791,689.76
COY Coppermoly Limited 0 0 0 71 0.012 $ 25,526,567.87
DEV Devex Resources 0 30 22 232 0.365 $ 103,168,651.60
AL8 Alderan Resource 0 0 -39 0 0.06 $ 17,876,465.52
KTA Krakatoa Resources -2 -21 -11 54 0.054 $ 15,342,250.00
ARD Argent Minerals -2 -2 13 200 0.051 $ 45,563,518.47
ANX Anax Metals -2 -5 37 222 0.093 $ 33,267,469.55
TLM Talisman Mining -2 -4 88 145 0.225 $ 42,924,528.55
ALK Alkane Resources -2 2 -13 1 0.88 $ 535,849,920.00
BOC Bougainville Copper -2 -9 127 176 0.635 $ 260,690,625.00
CHN Chalice Mining -3 9 119 798 8.49 $ 3,019,044,384.27
SLZ Sultan Resources -3 -3 5 78 0.2575 $ 18,426,613.09
HLX Helix Resources -5 8 320 396 0.042 $ 55,198,920.35
EM2 Eagle Mountain -5 -14 217 567 1 $ 209,511,138.90
AIS Aeris Resources -5 20 143 401 0.18 $ 364,693,064.58
PXX Polarx Limited -6 3 -3 0 0.034 $ 24,187,640.18
RTG RTG Mining Inc. -6 0 -6 142 0.16 $ 108,714,261.18
KAU Kaiser Reef -6 -11 -28 -11 0.295 $ 30,494,631.51
ZNC Zenith Minerals -7 -10 112 208 0.265 $ 83,892,608.55
ARE Argonaut Resources -11 -6 33 60 0.008 $ 26,215,843.04
CZN Corazon -12 6 -24 -34 0.038 $ 8,731,328.19
XAM Xanadu Mines -17 -14 32 14 0.05 $ 75,337,065.00

 

SMALL CAP COPPER STANDOUTS

TARUGA MINERALS (ASX:TAR)

A review of old VTEM data has identified a 7km-long anomaly corresponding with the high grade ‘Wyacca’ copper discovery at the Mt Craig project in South Australia.

Recent drill results from Wyacca included 5m at 2.4% copper from 17m, including 1m at 9.5% copper.

“This anomaly is open to the east beyond the survey limits, where likely extensions are also contained within Taruga’s Exploration Permit,” Targua chief exec Thomas Line said May 24.

“Here, the intensified anomaly becomes somewhat isolated, and we look forward to targeting this and other newly identified VTEM anomalies in the upcoming RC program.”

 

INVESTIGATOR RESOURCES (ASX:IVR)

Investigator’s main game is the Paris silver project, but it also has a joint venture over the Pernatty copper project in South Australia.

In April, JV partner DGO Gold (ASX:DGO) hit “Zambian style” copper mineralisation in maiden wide-spaced drilling.

Highlights included 1m @ 2% CuEq (0.82% copper, 0.1% cobalt, & 19.7g/t silver) from 75m.

Follow up drilling was to commence as soon as approvals were granted, DGO says.

 

LEFROY EXPLORATION (ASX:LEX)

Kalgoorlie explorer Lefroy has gained 480% since the ‘Burns’ copper-gold discovery was first made in February.

New drilling has now extended the mineralised porphyry zone to at least 100m below an impressive earlier strike of 8m at 7.63g/t of gold and 0.56 per cent copper from 134m.

It is the first news flow from an accelerated 14-hole, 3000m diamond drill program.

 

GOLDEN DEEPS (ASX:GED)

Drilling at the Nosib prospect in Namibia hit thick intervals of copper mineralisation in 13 of the 15 holes completed, the explorer said yesterday.

One hole intersected a 5m interval of semi-massive copper sulphides from only 10m downhole (8.6m below surface).

Copper mineralisation was discovered at Nosib in 1915, with mine access development work between 1917 to 1920.

Underground sampling conducted by Golden Deeps along the development drives pulled up impressive results like 6m at 9.3% copper, 4.72% lead, and 7.92g/t silver.

Current drilling is testing between the previously developed levels, targeting extensions to this high-grade copper-lead-silver-vanadium ore that was sampled.