The multimillion dollar value chain for electric vehicle batteries is starting to take off in Zambia, and a number of firms have started positioning themselves to profit from it.
SIXTUS MULENGA, the founder and chairman of Musamu Resources, claims that his manganese mine has already stockpiled around 40,000 tons of the mineral and hopes to be one of the project’s major suppliers.
As he focuses on enhancing manganese’s value, Dr. MULENGA, who is attending the Mining Indaba in Cape Town, South Africa, has enlisted numerous interested parties.
Additionally, according to Stanbic Bank Chief Executive Officer MWINDWA SIAKALIMA, the financial institution is considering providing financial and advisory services to several important players that have expressed interest in electric vehicles.
The ZCCM-IH Board Chairperson DOLIKA BANDA claims that with the investments in electric vehicles, Zambia is positioned to become a centre for international investment.
According to Ms. BANDA, several investors from the region and outside have showed interest in providing different types of support services to the EV business.
In order to support the development of the value chain in the clean energy sector and for electric batteries, Zambia and the DRC inked a cooperation agreement in April of last year.