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.
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Northvolt deepens its engagement in the Democratic Republic of Congo. 19 January, 2024 To foster a sustainable battery industry, securing a sufficient supply of responsibly sourced raw materials is crucial. where there is great interest and opportunity for the expansion of education systems, and the creation of increased opportunities
Swedish battery maker Northvolt is looking to source cobalt, used to make chemicals for electric vehicle batteries, from the Democratic Republic of Congo (DRC), the company said on Friday.The company has trialled material, studied work processes and compared plans to improve both social and environ
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Democratic Republic of Congo Economic Outlook The economic growth rate fell from 8.8% in 2022 to 7.5% in 2023, due to underperformance in extractive industries (where the growth rate fell from 22.3% in 2022 to 15.4% in 2023). Growth in nonextractive sectors rose from 3.1% in 2022 to 3.6% in 2023, driven by agriculture (up 0.45%), construction and public works (up 0.57%), and
Northvolt deepens its engagement in the Democratic Republic of Congo. 19 January, 2024 To foster a sustainable battery industry, securing a sufficient supply of responsibly sourced raw materials is crucial. where there
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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
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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.
“The DRC produces about 70 per cent of global cobalt but captures just 3 percent of the battery and electric vehicle value chain.
At various times, Northvolt has been approached by DRC stakeholders asking for the company’s engagement with the country’s mines and other actors, in part to support in improving working conditions in the developing region. Meaningful engagement from a company such as Northvolt is the right direction to take.
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.
Africa has a wealth of critical battery raw materials and is in a position to use these to attract more value-add in downstream processing and manufacturing.”
This is due to the DRC’s proximity to cathode raw materials and heavy reliance on hydroelectric power plants.
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