The US has signed a memorandum of understanding (MoU) with the Democratic Republic of Congo (DRC) and Zambia to strengthen electric vehicle (EV) battery value chains.
Under the terms of the MoU, the US will support the commitment between the DRC and Zambia to develop jointly a supply chain for EV batteries.
The MoU, signed during the US-Africa Leaders Summit in December, supports the DRC's and Zambia’s goal of building a productive supply chain, from the mine to the assembly line, while also committing to respect international standards to prevent, detect and take legal action to fight corruption throughout this process.
The DRC produces more than 70% of the world’s cobalt, and Zambia is the world’s sixth-largest copper producer and the second-largest cobalt producer in Africa. These resources, and this commitment to cooperation, are crucial components of the urgently needed global energy transition.
"The plan to develop an EV battery supply chain supports open and transparent investment to build value-added and sustainable industry in Africa and creating a just energy transition for workers and local communities.
"The US private sector is a tremendous resource for technical knowledge, financing and commercial development at every step in the process. The US government will work with the DRC and Zambia to ensure the private sector has a level playing field to participate in these projects," the US–Africa Regional Media Hub said in a statement on January 18.