DRC extends ban on cobalt export for another three months

A regulatory agency announced Saturday that the Democratic Republic of Congo has extended its ban on cobalt exports for three months, a measure aimed at curbing an oversupply of the key material for electric vehicle batteries.

The world’s largest supplier of cobalt, the country imposed a four-month export ban in February after prices hit a nine-year low of just $10 per pound. The ban was originally set to end this Sunday.

“The decision…