South Africa and DRC Forge Electric Battery and Hydropower Agreements
Presidents Cyril Ramaphosa and Felix Tshisekedi have agreed to explore electric battery manufacturing and revive the Inga 3 hydropower project, targeting enhanced bilateral cooperation. These initiatives leverage the DRC's lithium reserves and aim to address energy deficits while boosting economic ties between the two nations.
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During a recent meeting in Kinshasa, Presidents Cyril Ramaphosa and Felix Tshisekedi reached agreements to explore electric battery manufacturing and revive the Inga 3 hydropower project, which aims to generate 11GW on the Congo River. The DRC's lithium reserves position it as a crucial player in the electric vehicle and smartphone industries, with analysts predicting a market value exceeding $850 billion by 2027.
A BloombergNEF study shows that establishing a 10,000 metric tonne cathode precursor factory in the DRC could cost $39 million, significantly lower than in the US or Europe. The Inga 3 project, initially announced in 2013, could alleviate electricity shortages in both countries. Ramaphosa called for more South African investments in the DRC, emphasizing the region's mineral wealth and the need for cooperation amid global challenges.
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