By Alexander Nkosi – Zambia Inc
DRC and Zambia hold more than 70% of the World’s cobalt and copper reserves and yet despite this, the two countries only capture an insignificant proportion of the global battery and Battery Electric Vehicle (BEV) value chain.
There is a huge opportunity for a partnership to support value chains in copper and cobalt which will see the two countries earn billions of dollars. In line with this, Congo DR President will soon visit Zambia and the two countries will sign agreements that will facilitate development of a Battery Electric Vehicle (BEV) and Renewable Energy Value Chain.
Presidents Official Statement
We were honored to have hosted President of the Democratic Republic Congo His Excellency Félix Antoine Tshisekedi Tshilombo at the occasion of the official signing of the Zambia – DRC Cooperation Agreement on the Establishment of a Value Chain in the Electric Vehicle and Clean Energy Sectors.
Zambia and the DRC are both well endowed in the production of high grade copper and cobalt that is further complimented by rich deposits of manganese, nickel, phosphorus and iron.
The complimentary of the the resource endowments of our two great nations is well able to support the emergence of robust value chains across a host of manufacturing sectors such as batteries, electric cars and the renewable energy sector.
Our focus is job creation for the people of our two countries through economic diversification, job and wealth creation for the economic and social transformation of our citizens.
We therefore challenged the academia and research institutions of our two nations to provide a leading role in the provision of knowledge and evidence based results to support policy formulation and industry needs.
We also called upon the business community of our two countries to take a keen interest and consider participating in this ground breaking to establish a value chain in the electric battery and clean energy sector.
Using the PPDF, we invite private sector to fully examine this and the other MoUs
we have signed to take advantage of business opportunities. This particular MOU will also give opportunities to small scale artisan miners. This is the best time to formalize yourselves. We don’t just sign; we get things done too.
God bless Zambia! God bless DRC!
President of the Republic of Zambia
The global electric vehicle market is anticipated to grow from $287.36 billion in 2021 to $1.3 trillion in 2028. Copper is a key component used in electric motors, batteries, wiring and in charging stations.
The demand for copper due to electric vehicles is expected to increase rapidly by 2028.
There is a strong driving force at the centre of this energy transition. The acceleration towards lowering carbon output through alternative energy sources has become a top priority around the world, particularly in the transportation sector. Greater use of electric vehicles and expansion of renewable energy capacity to cut noxious emissions will mean accelerating demand growth for copper in coming years.
According to Rueters, key world leaders are driving this energy transition: Chinese President Xi Jinping, pledged to steer the country to “carbon neutrality” by 2060. In China, the world’s biggest auto market, the goal is for electric vehicles to make up 50% of all new car sales by 2035. President Joe Biden pledged $2 trillion to help cut emissions. The European Union too is aiming for net-zero emissions by 2050.