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Can the Democratic Republic of the Congo produce lithium-ion battery cathode precursor materials?
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.
Why should the Congolese government invest in EV & battery storage?
It also highlights the potential for increased engagement with the Congolese government to promote global trade of these valuable resources. As the EV and battery storage industries grow, the International Energy Agency (IEA) has predicted that total demand for lithium will rise by close to 90% by 2040.
How can Africa extend its access to the battery industry?
In so doing, the country and the rest of Africa can extend their access from the USD271 billion battery precursor segment to the more lucrative USD1.4 trillion combined battery cell production and cell assembly segments of the battery minerals global value chain.
Are mining sites in the DRC a green future?
As companies globally look toward investing in a green future, particularly in the electric vehicle (EV) industry, mining sites in the DRC have become focal points of the supply chain necessary for constructing the batteries used in these cars.
Is Africa a good place to buy a battery?
Africa has a wealth of critical battery raw materials and is in a position to use these to attract more value-add in downstream processing and manufacturing.”
How much cobalt does the DRC produce?
“The DRC produces about 70 per cent of global cobalt but captures just 3 percent of the battery and electric vehicle value chain.