Browsing: Lithium battery

• 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, …

Tanzanite is a precious stone said to be a thousand times rare than the rarest diamond. True to that claim, the tanzanite gemstone is mined in only one location in the world; a small area in Simanjiro District in Tanzania.

Given the scarcity of tanzanite you would expect that the single mining country, Tanzania would be stock rich, or at least earn the lion’s share of what the gem is valued.

This is not the case. In fact, the exact opposite is true. Tanzanite trade globally earns USD 500 million a year, but Tanzania’s export revenues are a paltry USD 20.75 million, or equivalent to 4.15 percent of the global export value!

Also Read: Tanzania: Small scale miners double in a year

The overwhelming question is why and more importantly how can the situation be resolved? how can Tanzania increase its earnings from its monopoly mining of tanzanite?

The …