Browsing: copper

• 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, …

• US Vice President Kamala Harris pledges increased US trade with Tanzania
• This visit by VP Harris is expected to encourage US investment in Tanzania through trade, which already the office of the Vice President has pledged to do.
• US Lifezone Metals to set up second cobalt, nickel refinery plant in Tanzania

The trip to Tanzania by US Vice President Kamala Harris is already bearing fruit with the US announcing plans to increase trade with the country.

Air Force 2 landed in Tanzania late Wednesday where the US second in command was received in a colourful ceremony at the Julius Nyerere International Airport (JNIA) in the commercial port city of Dar es Salaam.

Her host, Tanzania president Samia Suluhu Hassan who was herself Vice President less than two years ago, hosted Vice President Harris at the State House fondly known in Swahili as Ikulu. Vice President Kamala Harris is in Tanzania …

Halwampa said ZDA anticipates to increase its performance next quarter through the prospected revision and enactment of the ZDA, and the Investment Trade and Business Development bills into law which will support domestic investment, trade and business development in Zambia.

He further added that the implementation of the US$50, 000 thresholds for local investors will attract local investors to come on board to invest in their own country.

Halwampa has since called on local investors to take interest in investing in the southern African country and take advantage of the favourable environment which government has created to support local investors.…

The challenge facing the EAC is not the lack of natural resources but the lack of high-tech industries. China is a perfect example of a country that transformed from an agricultural civilisation to an industrial one. More than 850 million individuals have been lifted out of poverty due to recent economic growth brought about by China’s industrialisation.

Without involvement in the fourth industrial revolution, the East African Community would never be able to escape its state of backwardness. Therefore, the DRC will catalyse industrial transformation inside the East African Community, Africa and the world.…

The DRC investment summit is a creative tool used by the nation to attract global investment stakeholders. According to the summit organizers, the summit brings together international investors, businesses, developers, and policymakers to attract and retain investment, as well as discuss trends that influence economic growth in the DRC.

DRC is arguably one of Africa’s richest countries in terms of natural resources, but it still ranks lower in investment performance.

Furthermore, DRC’s Human Capital index is 0.3 percent below the SSA average of 4 percent.

DRC has the world’s third-largest human population of impoverished people, which the WB argued remains widespread and is increasing due to the impacts of the COVID-19 pandemic.…

A dollar is trading at 16.67 Kwacha and 13.35 Seychelles rupees as at December 31. Both countries were among the three worst performers in 2020.
This has fueled speculation from corporate participants and currency retail traders on when exactly to exit foreign currency risks for dollar hoarders or whether to buy the Kwacha as a safer haven store for value.
President Hichilema’s government is in the process of reworking as much as $17 billion in external public debt. He has submitted an endorsement request to the IMF as his administration advances talks with creditors from US$3 billion in Eurobond holders to US$5.8 billion owed to the Republic of China. …

Since then the company has pursued a highly aggressive growth strategy constituting of both organic and acquisitive growth. Sibanye in a very short space of time acquired the Cooke operations from Gold One International in 2013 and the Burnstone project from Wits Gold the following year. The aim of this aggressive growth strategy was to produce more sustainable gold operations. 

The story of growth did not stop there. 

Soon the company set its sights on the platinum sector and began to snap up various interests and operations in that space. In 2016 Sibanye acquired the Aquarius Platinum’s Rustenburg operations namely Kroondal mine as well as the Platinum Mile treatment facility in South Africa and in Zimbabwe it took over the Mimosa joint venture with Impala Platinum. Later that year the company also bought the Rustenburg operations of Anglo Platinum.…

The DRC’s untapped deposits of copper, gold, diamonds, cobalt, uranium and coltan are some of the raw minerals estimated to be worth more than US$ 24 trillion.…