The US releases signed MOU with Zambia to strengthen electric vehicle battery value chain

The Department of State released the signed Memorandum of Understanding (MOU) on electric vehicle battery value chains signed by the United States on December 13, 2022, during the Africa Leaders Summit.  Through this MOU, the United States will support the commitment between the Democratic Republic of Congo (DRC) and Zambia to develop jointly a supply chain for electric vehicle batteries.  The MOU supports the DRC and Zambia’s goal of building a productive supply chain, from the mine to the assembly line, 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 percent of the world’s cobalt.  Zambia is the world’s sixth-largest copper producer, and the second largest cobalt producer in Africa. 

Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.

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