The Department of State has announced the signing of a memorandum of understanding (MoU) on electric vehicle battery value chains during the Africa Leaders Summit. The MoU was signed by the United States, the Democratic Republic of Congo (DRC), and Zambia.
The United States will support the Democratic Republic of Congo (DRC) and Zambia in their commitment to jointly develop a supply chain for electric vehicle batteries, as outlined in the recently signed memorandum of understanding (MoU).
The Memorandum of Understanding (MoU) aids the Democratic Republic of Congo (DRC) and Zambia’s objective of establishing a robust supply chain, extending from mining to assembly, by committing to adhering to international standards that are designed to prevent, identify and legally combat corruption throughout the entire process.
The Democratic Republic of Congo (DRC) produces more than 70% of the world’s cobalt. while Zambia is the world’s sixth-largest copper producer and the second-largest cobalt producer in Africa.
These resources, combined with their commitment to cooperation, are crucial for the global energy transition that is desperately needed.
The plan to develop an electric battery supply chain paves the way for transparent investment to establish value-added and sustainable industries in Africa and create a just energy transition for workers and local communities.
The U.S. private sector is a valuable resource, both in terms of technical knowledge and financing, for commercial development throughout the process.
The U.S. government will work with the Democratic Republic of Congo (DRC) and Zambia to ensure that the private sector has a level playing field to participate in these projects. The U.S. private sector is a significant resource, both for technical knowledge and financing, for commercial development at every step in the process.