Dar es Salaam. A two-day summit is expected in Zanzibar from April 24 and 25, 2024, where local, regional and global actors in key battery minerals will advance the global green economy, address climate change, and allow select companies to meet the rapidly growing demand for key energy sources.
The 1st East African Battery Minerals Summit is organised by the East African Community (EAC), the African Battery Initiative, and the government of Tanzania in partnership with InvestBank Corp, which describes itself as a global investment bank.
A statement released by organisers on Wednesday noted that the summit will occur when the world grapples with the extreme effects of climate change, leading companies, investors, government agencies, and NGOs are focused on decarbonisation, sustainability, and creating significant impact.
“The worldwide battery electrification mega-trend has significantly increased the demand for key battery minerals,” organisers said, referring to recent studies indicating that the Democratic Republic of the Congo, Tanzania, Burundi, and Zambia alone account for a significant percentage of the total global deposits of key battery minerals, including cobalt – 60 per cent, nickel – 40 per cent, lithium – 35 per cent, and graphite – 45 per cent.
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“The 1st East African Battery Minerals Summit offers an unparalleled opportunity for leading companies and investors to participate in the development and industrialisation of each EV battery supply chain sector in the [EAC] region,” organisers announced.
“This development and industrialisation will increase the resilience of the global battery minerals supply chain by increasing the number of countries involved,” they added. “Companies will also have an unprecedented opportunity to strengthen their own battery mineral supply chains and attain supply chain security.”
According to organisers, the EAC Secretariat has prioritised the development of the region’s extractive industries and mineral value addition as a strategic value chain to facilitate socioeconomic transformation in the region.
“ The [EAC] region plans to transform itself into a stable and competitive lower-middle income region by 2030 through the sustainable use of its natural resources, the development of the green economy, and climate change adaptation and mitigation activities,” organisers announced.
