At the Africa Business Forum in Kinshasa on 24-25 November 2021, a BloombergNEF representative presented a study showing that the Democratic Republic of Congo (DRC) could exploit its cobalt reserves to become a cost-competitive and CO2 emission-competitive producer of battery cathode precursor materials. The study also found that investment costs in the DRC were lower than in any of the other major battery producing countries, due to their relatively low project development costs, even after taking into account infrastructure, labour and other costs.
The opportunity for the DRC lies in the fact that the country alone has 70% of the world’s cobalt reserves. This mineral is essential for the manufacture of electric batteries. To seize this opportunity, the DRC has joined forces with Zambia, which has 10% of the world’s cobalt reserves. The two countries aim to create an African value chain for the minerals used to make batteries.
Source : Afrik 21
