Zanzibar to host first battery minerals summit
What you need to know:
- Recent studies reveal that the Democratic Republic of the Congo, Tanzania, Burundi, and Zambia alone hold a staggering 60 percent of the world's cobalt, 40 percent of its nickel, 35 percent of its lithium, and 45 percent of its graphite deposits.
Unguja. East Africa is emerging as a key player in the battery minerals industry, hosting the inaugural "First East African Battery Minerals Summit" on April 24 and 25 in Zanzibar.
This landmark event, organised by the East African Community (EAC), the African Battery Initiative, and the Tanzanian government, aims to address the surging global demand for battery minerals while promoting sustainable practices and economic development in the region.
The summit comes amidst a booming electric vehicle (EV) market, driving a significant increase in the need for key battery minerals like cobalt, nickel, lithium, and graphite.
Recent studies reveal that the Democratic Republic of the Congo, Tanzania, Burundi, and Zambia alone hold a staggering 60 percent of the world's cobalt, 40 percent of its nickel, 35 percent of its lithium, and 45 percent of its graphite deposits.
This abundance presents a unique opportunity for East Africa. The summit aims to attract leading companies and investors to participate in the development and industrialization of the entire EV battery supply chain within the EAC region.
This will not only strengthen the global battery minerals supply chain by diversifying its sources, but also empowers East African nations to leverage their natural resources for sustainable economic growth.
"The East African Community Secretariat prioritizes the development of our region's extractive industries and mineral value addition," stated an EAC representative.
"This summit aligns with our vision of transforming East Africa into a competitive middle-income region by 2030, through sustainable resource utilization and climate-friendly practices."
The summit will provide a platform for key stakeholders, including government officials, industry leaders, investors, and NGOs, to discuss critical issues like responsible mining practices, environmental sustainability, and community development.
It also offers companies an unprecedented opportunity to secure their own battery mineral supply chains and ensure long-term stability.
With its abundant resources and strategic location, East Africa is poised to become a major player in the global battery minerals market.
The 1st East African Battery Minerals Summit marks a significant step towards achieving this vision, paving the way for a sustainable and prosperous future for the region.
