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.

Will Congo develop battery manufacturing capacity to add value to exports?

REUTERS/Aaron Ross/File Photo Acquire Licensing Rights DAKAR, Nov 24 (Reuters) - Democratic Republic of Congo's government said on Wednesday it would push to develop domestic battery manufacturing capacity to add value to its exports of minerals such as cobalt and copper.

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.

Which development banks have signed a pledge to develop Congo's battery industry?

Several development banks, including the African Development Bank, also signed a pledge to help develop Congo's battery industry, but the text of the agreement was not immediately available. Reporting by Aaron Ross; editing by David Evans

How much would a DRC plant cost?

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.

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.