DRC can get better value for cobalt by processing, rather than exporting, raw materials

Source: energy-storage.news energy-storage.news

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The Democratic Republic of Congo (DRC) supplies most of the world’s cobalt, but exporting semi-finished or finished products rather than raw materials would better help the country capture the value of the metal used in high power lithium-ion batteries. A new report has found that the export of raw materials is not economically beneficial to the DRC and other countries with significant resources in the long-term, compared to exporting products like battery cathode precursor materials. At present, nearly all of the DRC’s cobalt capacity is exported to Europe and China for processing. Not only that, but it would actually be...