If there's no schools then there's not enough tax being drawn from the mine, so tax the mine (or cobalt exports). You do that until the point smartphones become unaffordable (which we are really, really far off).
Except that's not what happens because it's not in the West's interest and there's enough influence over dictators etc. to keep it that way.
What's your point, unless you were actually agreeing with the parent?
If only there were an alternative to this inevitable, natural, inexorable economic process. Too bad there isn't.
If you want to try to solve the problem through some random intervention you need to take a step back and fix whatever is preventing them from going to school, not arbitrarily taking away their jobs and then patting yourself on the back for a problem solved.
The ultimate reason it doesn't happen is because people in the west don't want to pay more for their smartphone (they are not to blame though, as they won't see this picture, our politicians, corporations and planners are the groups that maintain this picture deliberately).
You talked about the mine owners and the price of phones, but what about the children and their families? What would they have to do?