Tantalite prices have surged to their highest levels in two years, driven by deepening unrest in the Democratic Republic of Congo.
Traded at $100–$105 per pound on the European spot market, prices have jumped 25% since conflict erupted in January.
Tantalite, which contains tantalum, is critical for capacitors, medical devices, and components in nuclear reactors and aerospace systems.
The Democratic Republic of Congo, the world’s leading tantalum producer, is grappling with escalating violence from the Rwandan-backed M23 rebel group.
“The conflict in eastern Congo makes it nearly impossible to secure legitimately tagged tantalite,” a metals trader told Reuters.
Buyers often face the risk of rebels seizing mining regions even after agreements are signed, halting planned shipments.
As Western smelters shy away from sourcing from conflict zones, demand has shifted to smaller suppliers like Burundi, Ethiopia, and Mozambique.
These alternative sources, however, contribute just 4.6% of global supply, compared to the 58% share held by Congo and Rwanda in 2024.
“The supply gap is forcing buyers to pay steep premiums,” said Sian Morris, a critical minerals analyst at Argus.
Analysts warn that short-term increases in production are unlikely, with artisanal mining posing ethical and traceability concerns.
“There are no quick-fix producers to fill the void,” noted Piyush Goel of CRU Group.
Amid the turmoil, U.S. officials confirmed Congo and Rwanda have submitted a draft peace proposal aimed at ending the conflict.
The initiative seeks to unlock billions in Western investment, stabilising the region and restoring vital supply chains.
