United States to reissue cobalt stockpile tender

The United States is preparing to revive a major cobalt procurement effort after cancelling an earlier bid round this autumn, as Washington accelerates long-term plans to rebuild strategic mineral inventories and reduce dependence on foreign supply.

The Defense Logistics Agency (DLA) plans to reissue an updated tender this week for as much as $500 million of cobalt, with awards expected in February 2026, according to Argus News. The DLA had initially sought offers in mid-August for up to 7,500 tonnes of alloy-grade cobalt to be delivered over five years, but cancelled the process in mid-October.

The renewed cobalt tender comes amid a gradual firming in prices. Standard-grade cobalt has edged higher in recent weeks, with Fastmarkets assessing the material at $23.83 per lb., its highest level since November 2022. Prices remain well below the 2021-22 peaks but have strengthened on tightening availability and renewed expectations for U.S. purchasing.

For U.S. policy makers and industry stakeholders, the new tender offers a potential direct avenue into a market increasingly shaped by producer-country supply control. Most notably, the Democratic Republic of Congo — which accounted for an estimated 70%–80% of global cobalt production last year — has overhauled its export regime. Analysts say its new quota system may shift the market from surplus toward deficit in 2026 and beyond.

Export controls

For miners and battery-chemistry firms, the African push to exert more control over exports adds new layering of risk and opportunity: tighter supply from the world’s dominant producer may support higher prices, but also raises uncertainty around access and timing.

The United States’ push to rebuild stockpiles marks another step in a broader shift that has intensified since 2022, when cobalt and other critical minerals became central to U.S. industrial and energy-security policies. Washington’s move coincides with growing policy signals from producer states.

In February, the DRC suspended cobalt exports to curb oversupply, and from Oct. 16 implemented a quota system limiting export volumes to about 96,600 tonnes per year for 2026-27, split between a base quota of 87,000 tonnes and a strategic quota of 9,600 tonnes. The cap is less than half of the roughly 200,000 tonnes estimated to have been exported in 2024.

The country’s regulator, Autorité de Régulation et de Contrôle des Marchés des Substances Minérales Stratégiques (ARECOMS), retains discretion to adjust quotas quarterly, and the measures are intended to promote domestic processing and raise cobalt price levels.

A parallel DLA tender for bismuth was also withdrawn last month, signalling possible sourcing constraints for the lesser-known metal. It’s used in products such as Pepto-Bismol.