How to involve artisanal and small-scale mining of cobalt in the Democratic Republic of Congo’s socioeconomic development financing

Cobalt (Co) is a critical metal key to a successful global energy transition. The Democratic Republic of the Congo (DRC) contains more than 50% of the world’s Co reserves, positioning it as a leading source, with an estimated market share of 76% in 2023. However, a non-negligible share of the DRC’s Co originates from artisanal and small-scale mining (ASM), which is highly criticized due to serious ethical and environmental concerns; these concerns negatively impact the perception of DRC mineral extraction. The U.S. Department of Labor has therefore blacklisted DRC Co. This embargo on Co will prevent the DRC from realizing its ambition of using the profits from the exploitation of mineral resources to expand socioeconomic development. This article describes DRC ASM, examines the role it could play in addressing the challenges of the nation’s socioeconomic development, and suggests a procedure to improve the applicability of mining laws and regulations.