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Browsing: Cobalt in DRC
- According to authorities, tapping into DRC’s mineral wealth will yield significant returns for investors and contribute to the Congolese population’s socio-economic advancement.
- This strategic approach resonates with President Félix Antoine Tshisekedi’s agenda to foster job creation and entrepreneurial opportunities.
- Canadian mining giant Ivanhoe Mines is cited as an example of a “modern investor” doing business in DRC.
The Democratic Republic of Congo (DRC) is embarking on a bold mission to harness its untapped mineral wealth, valued at $24 trillion, by courting “modern investors” to drive its mining-powered development plan.
At the forefront of this initiative is Mr. Miguel Kashal Katemb, the Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), who articulated the nation’s aspirations at the 30th annual Mining Indaba in Cape Town, South Africa.
In his address to the audience of investors, Mr Katemb underscored the DRC’s openness to all investors while emphasising the …
DRC President Félix Tshisekedi has announced the signing of a mining deal with the United Arab Emirates (UAE). Many other companies have shied away from the troubled Eastern region. However, the UAE company Primera Group has signed a share deal for export rights of minerals mined in the region.…
- DRC’s agriculture and vast extractive industry are prime targets for global investors. UAE investors have already struck a deal with the Kivu and Maniema Gold Company (SAKIMA).
- Investors can expect huge returns with DRC estimated to be Africa’s fastest growing economy at 4.7% this year.
- Through reforms, Kinshasa has cut business opening process to just three days.
While global economic growth is projected to average between 2.7% and 3.2%, the Democratic Republic of Congo (DRC) will be Africa’s fastest growing economy posting 4 percent jump this year.
This high rate of economic growth is getting the eye of investors from across the globe who are eyeing DRC’s promising returns in investments. Which begs the question: What is driving investors into DRC? I set out to find out why.
DRC’s key investment areas
According to this year’s Africa’s Macroeconomic Performance and Outlook report by the African Development Bank Group (AfDB), the …
- Lithium battery industry to grow over 30 percent annually from 2022 to 2030
- Market value for lithium batteries to exceed US$400 billion by 2030
- DRC, Zambia and Tanzania looking to refine cobalt, manufacture lithium batteries
The sale of Electric Vehicles (EVs) is booming in the transport industry of the developed world, and now Africa wants in.
Rather than continue to supply raw materials for the making of the electric vehicle, countries like DRC, Zambia, and Tanzania, want to refine the ores and even manufacture the final product, lithium batteries.
Their ambitions are well placed because the lithium battery industry is booming and will only keep growing. A 2022 analysis by the McKinsey Battery Insights team projected that the entire lithium-ion battery chain, from mining through recycling, could grow by over 30 percent annually by 2030 when it would reach a value of more than US$400 billion.
“Batteries for mobility applications, …
