The US Department of State has released the memorandum of understanding (MoU) it had signed with the DRC and Zambia to jointly develop a supply chain for electric vehicles batteries
Originally signed during the Africa Leaders Summit, the MoU will support the two African countries in their ambitions to build a productive supply chain, from mine to assembly, 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 while 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 global energy transition. The plan to develop an electric battery supply chain opens the door for 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 government will work with the DRC and Zambia to ensure the private sector has a level playing field to participate in these projects.