DRC Cobalt Supply Under Threat as Army-Backed Intruders Resume Illegal Extraction

The Democratic Republic of Congo's cobalt supply is facing another threat as Eurasian Resources Group (ERG) reports that army-backed intruders have resumed illegal extraction at its Metalkol mine near Kolwezi. The company claims that thousands of tonnes of mineral-rich tailings are being hauled away daily using heavy machinery, including excavators and dump trucks.

The incursion threatens to cut the mine's operational life from nine years to three, putting roughly $10 billion in future revenues at risk. ERG sees this as a serious issue, not just because of the lost revenue, but also because removing the tailings destroys the asset itself.

This is not the first time that illegal mining activities have plagued ERG concessions in the DRC. Previous incidents date back to 2022 and 2023, with estimated annual losses of nearly $2 billion across its operations. The company has documented these historical incursions and is now facing another dramatic escalation at Metalkol.