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Browsing: Copper Belt
- 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, …