How does the DRC influence the global battery supply chain?

Mining policy decisions made by politicians in the DRC’s capital Kinshasa or mining regions like Kolwezi are felt throughout global battery supply chains. For instance, as the producer of 70% of the world’s cobalt, the DRC has influence over the global electric vehicle battery supply chain.

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.

Should solar investors invest in DRC?

Several solar investors have explored the DRC market and are in the process of signing MOUs with the government. The GDRC seeks firms with financing and experience to collaborate with local and parastatal firms to build these power-generating facilities.

Is the DRC using mining influence for the benefit of DRC people?

Despite this, the DRC isn’t using this influence for the benefit of the DRC people. An estimated 74% of people in the DRC continue to live in poverty. Some mining revenues flow to the government but communities living near mines see little improvement in their daily lives.

Why does the DRC require cobalt refining?

By mandating that cobalt undergo refining within its borders, the DRC aims to capture greater value from its natural resources, stimulate local economic development, and reduce its historical dependence on the exportation of raw minerals. The cobalt market responded swiftly to the DRC’s export ban, as evidenced by a sharp increase in prices.