The US Division of State has introduced that it has signed a Memorandum of Understanding with Zambia and the Democratic Republic of Congo (DRC) to reinforce the nations’ electrical automobile battery worth chains.
By the MOU, the US will assist the dedication between the Democratic Republic of Congo (DRC) and Zambia to collectively develop a provide chain for electrical automobile batteries. The MOU will additional assist the DRC and Zambia’s purpose of constructing a productive provide chain, from the mine to the meeting line, whereas additionally committing to respect worldwide requirements to stop, detect, and take authorized motion to combat corruption all through this course of.
The US additionally dedicated to working with the DRC and Zambia to make sure its non-public sector, which is able to present technical information and financing for business improvement of the worth chains, has a stage taking part in subject to take part in these tasks.
Areas of cooperation
By the MOU, the US, Zambia and the DRC will work collectively on feasibility research, consultancies, and technical help alternatives to facilitate clear, aggressive tenders to seek out the perfect and most cost-effective contractors and companions to advance the mission.
The US additionally intends to take acceptable steps to advertise consciousness of the DRC and Zambia Electrical Car Battery initiative inside the U.S. non-public and funding sector and in addition assist the development of electrical automobile precursor vegetation within the two nations.
The DRC produces greater than 70 p.c of the world’s cobalt and Zambia is the world’s sixth-largest copper producer, and the second largest cobalt producer in Africa. These sources are essential parts to the manufacturing of batteries for electrical automobiles.