Resource Nationalism in Critical Minerals

Resource nationalism in critical minerals is the use of export bans, quotas, processing mandates, state ownership and higher royalties by producing countries to capture more value or control supply. The clearest recent cases are the Democratic Republic of the Congo, which replaced a cobalt export ban with quotas in October 2025, Indonesia, which cut its 2026 nickel ore quota, Zimbabwe, which plans to ban lithium concentrate exports from January 2027, and Chile, where Codelco and SQM formed a lithium joint venture with majority state participation in December 2025.

Which countries use resource nationalism, and how?

The measures fall into a few types, and the same country often combines them. The table lists the main cases with the latest dated facts found, and says where a source is secondary or old.

Why do governments restrict exports?

Governments restrict exports to capture more value at home, to support prices and to gain leverage, and the stated reason often differs by case. The USGS says the Congolese ban was imposed to address market oversupply and low prices. Argus reported that Indonesia's lower 2026 nickel ore quota is a measure for the government to regulate nickel pricing. Zimbabwe's stated aim for its planned concentrate ban is to push lithium processing into the country.

How do these measures affect buyers and prices?

Resource nationalism raises supply uncertainty, which changes buying behaviour even before volumes fall. The USGS says that uncertainty after the Congolese ban likely contributed to a sharp rise in US cobalt imports, to an estimated 14,000 t in 2025 from 10,800 t in 2024, and in industry stocks. The average US spot price for cobalt cathode was $21 per pound in 2025 against $16.77 in 2024. Indonesia produced an estimated 2.6 million tonnes of the world's 3.9 million tonnes of nickel in 2025, so a quota change there moves the global market.

Do these measures hold up?

Some measures face legal and economic pressure. A World Trade Organization panel found Indonesia's nickel ore export ban inconsistent with trade rules on 30 November 2022, and Indonesia appealed, which leaves the dispute unresolved while the Appellate Body is inactive. Chile's approach shows a negotiated alternative: instead of banning exports, Codelco and SQM agreed a joint venture for the Atacama salt flat that gives the state majority participation and runs to 2060.

Frequently asked questions

What is resource nationalism in mining?

Resource nationalism in mining is the use of state policy, such as export bans, quotas, processing mandates, higher royalties and state ownership, to keep more of the value of mineral resources inside the producing country. Examples in 2025-26 include Congolese cobalt quotas and Indonesian nickel ore quotas.

Why did the DRC introduce cobalt export quotas?

The DRC introduced cobalt export quotas to support prices after a period of oversupply. It banned exports in February 2025 and replaced the ban in October 2025 with quotas of 18,125 t for the rest of 2025 and up to 96,600 t a year in 2026 and 2027, according to the USGS.

Is Indonesia's nickel ore export ban legal under WTO rules?

A WTO panel found Indonesia's nickel ore export ban and domestic processing requirements inconsistent with trade rules on 30 November 2022. Indonesia appealed in December 2022 and said it would keep the ban, so the ruling has not yet changed the policy.

When does Zimbabwe's lithium concentrate export ban start?

Zimbabwe's ban on lithium concentrate exports was announced in June 2025 to start in January 2027. The government has delayed similar deadlines before, and no 2026 confirmation of the date was found for this page.

Sources

Read on October 12, 2026. Figures on this page come from these documents; where a number is an estimate, the source says so.

1. USGS Mineral Commodity Summaries 2026: Cobalt
2. USGS Mineral Commodity Summaries 2026: Nickel
3. Argus: Indonesia to cut nickel mining quota in 2026
4. Hellenic Shipping News: Indonesia's nickel ore export ban found to violate WTO rules
5. ING Think: Indonesia bans bauxite exports from June 2023
6. Mining.com: Zimbabwe to ban export of lithium concentrates from 2027 (June 2025)
7. Codelco: Codelco and SQM form NovaAndino Litio
8. Mining Weekly: Future Mexican lithium tie-ups must give government a majority (February 2023)