With the world moving towards green energy, an opportunity is presented for Zambia to make a case for a factory that will manufacture Lithium batteries which are used in electric vehicles (EVs). Between the DRC and Zambia, the share of Cobalt reserves is estimated at 200,000 matric tons. That tonnage, by value, is US$14.6 billion.
Using its peace and relatively stable political atmosphere in Zambia, we have engaged a few investors who have appetite to set up a lithium battery production plant in our country. We have pitched to them that other than locally produced Cobalt, other raw material can be sourced from DRC which is less than 300km from Chingola while Lithium can be sourced from Zambia and Zimbabwe. As usual like many other investors they are looking at the political situation closely especially 2021 hoping for a change of Government.
This industry is expected to be the world’s fastest growing industry in the next ten years with an estimated value of US$420 billion in investments. While we are bickering about who looks more handsome than the other, who comes from which ethnic group or who is a better propagandist, Sweden has just secured US$1billion for such a factory.
This plant is expected to generate 10,000 direct and many more indirect jobs. But all this will be dependant on choosing a responsible Government in 2021.