Democratic Republic of Congo Customized Cylindrical Lithium Battery Price

London and Kinshasa, November 24, 2021 – The Democratic Republic of the Congo (DRC) can leverage its abundant cobalt resources and hydroelectric power to become a low-cost and low-emissions producer of lithium-ion battery cathode precursor materials.

“The DRC produces about 70 per cent of global cobalt but captures just 3 percent of the battery and electric vehicle value chain.

This is three times cheaper than what a similar plant in the U.S. would cost. A similar plant in China and Poland would cost an estimated $112 million and $65 million, respectively. Precursor material produced at plants in the DRC could be cost competitive with material produced in China and Poland but with a lower environmental footprint.

“The DRC's cost competitiveness comes from its relatively cheap access to land and low engineering, procurement and construction, or EPC, cost compared to the U.S., Poland and China,” said Kwasi Ampofo, lead author of the report and BNEF's head of metals and mining.

This is due to the DRC's proximity to cathode raw materials and heavy reliance on hydroelectric power plants.

Securing investment from a major Western firm like Rio would be a strategic win for the DRC as it seeks to reduce Chinese dominance in its mining sector. The country is also in preliminary talks with the U.S. government regarding a minerals-for-security deal to support its efforts against a Rwanda-backed rebellion in the eastern provinces.