During a trip to Tanzania last week, U.S. Vice President Kamala Harris unveiled measures to increase trading and investments in the country. She spoke of the LifeZone Metals Project, which has U.S. support to establish a new processing facility in Tanzania for the minerals used in electric car batteries. Harris stated that the facility will begin exporting class-1 battery-nickel to America and into the market worldwide from 2026.
The Tanzanian government owns 16% of the Kabanga Nickel Company Limited, a mining company that invests in large-scale mining projects in the northeast of Tanzania. The company claims that these operations will help reduce the unquenchable demand for nickel among electric car manufacturers.
According to the company, the Kabanga project produces huge volumes of high-grade nickel sulfide minerals as well as quantities of copper and cobalt valued at billions across the globe. A crucial component in li-ion batteries, nickel lessens the automaker’s reliance on cobalt metal, which happens to be more costly; in addition, its supplier base is not very transparent. Elon Musk has pleaded with companies to invest more in nickel mining.
Harris stated that the project represented a significant and leading example with its unique and zero-emission practices and, most significantly, the mineral raw materials would eventually be processed by the Tanzanians in their own country. This will create robust worldwide distribution networks and launch new businesses and employment opportunities.
According to Harris, Tanzania has a lot of room to grow. She mentioned that the U.S. government was collaborating with other parties to find more chances for the essential minerals from the area to be processed at the new plant.
The Kabanga Nickel Company says its mission is to enable Tanzania to realize its full potential and emerge as the world’s leading supplier of nickel. It is presumed that nickel concentration will take place on site, then be transferred to a metal processing plant to be refined into nickel, cobalt, and copper metals as the end product, which will then be transported to Dar es Salaam and shipped to the market to be sold.
The project, according to officials, is anticipated to produce up to 50,000 tons of cathodes made from nickel annually, in addition to tiny portions of cobalt and copper.
Harris’s visit to Tanzania was warmly hailed by Kabanga as the most significant advancement in its developing strategic partnership and an acknowledgment of Tanzania’s significance as a vital new supplier of essential minerals.
One of the recent concerns for the EV industry has been the cost of raw materials. It remains to be seen how the nickel from Tanzania will ease the input cost and supply woes faced by carmakers such as Cenntro Electric Group Ltd. (NASDAQ: CENN).
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