NEW YORK, Sept 24 (Reuters) - Democratic Republic of

Congo will stick to its recently announced quota system for

cobalt exports, with revisions only possible in the long term if

the government sees them as necessary, the country's mining

minister said on Wednesday.

The mining minister, Louis Watum Kabamba, told Reuters in an

interview on the sidelines of a seminar in New York that his

country is more interested in investments that include more

processing of cobalt locally, looking to increase the value of

its exports.

"We cannot let other people to decide for us. If there will

be a stockpile (of cobalt) or not, it is a secondary issue. The

most important is to get a fairer price," Watum said after

taking part in the seminar organized by the Cobalt Institute.

Congo, which supplied about 70% of global demand for

cobalt in 2024, will replace an export ban imposed in February

with a quota system from October 16 to help manage supplies and

influence prices. Miners will be allowed to ship up to 18,125

tons of cobalt for the rest of 2025, with annual caps of 96,600

tons in 2026 and 2027.

The export quota system is favored by the world's number two

producer, Glencore ( GLCNF ), but opposed by Chinese mining

company CMOC, the top producer of the key electric battery

material. The total quota is smaller than CMOC's production

capacity.

"We will not be controlled by the Chinese or by anyone, but

ourselves. A country that supplies 70% of the world's cobalt has

to have a say about price," Watum said.

Potential revisions to the quota system could come in the

future, but there is no time set, he said.

Watum also said the government will continue to take back

concessions from companies if they fail to develop the assets.