Expert predicts Zambia can play major role in green transition

Steven Vass, an expert in the green economy, is backing Zambia to play a major role in the future of the global energy supply chain.

After the US Africa leaders’ summit saw the country sign a historic memorandum of understanding with the Democratic Republic of Congo to develop an electric vehicle battery supply chain, and a $150 million dollar investment was announced by metal exploration firm KoBold metals, Zambia’s pre-eminence in the transition to a renewable future appears increasingly secure.

Zambia is the second largest copper producer on the African continent, the seventh largest in the world, and possesses some of the highest grade copper deposits in the world.

Copper is one of the most important metals for the future of renewable power generation. It is an extremely efficient conductor, reducing wastage and therefore increasing cost efficiency, it is much more affordable than comparable conductors such as gold, it has high ductility and is therefore useful in a huge range of components. Furthermore, it is extremely resistant to corrosion and heat - vital for both safety and longevity.

Global copper demand is expected to triple by 2040. In the same period, the Zambian government hope to more than triple their production to 3 million tonnes in order to retain Zambia’s preeminence in the global copper market.

With First Quantum Minerals’ $1.25 billion investment into Zambia’s copper mines being just one of a number of recent signs that investor confidence is growing in the country, it is hoped that Zambia’s mineral deposits can see both the country grow and the world ease into the transition away for fossil fuels.

Zambia also has large supplies of cobalt, a vital competent of lithium batteries. Cobalt crucially ensures cathodes do not easily overheat and it extends the life of the batteries. For this reason, cobalt demand is expected to rise over 20 times.

As the country continues its recovery from its unfortunate status as the first country to default on its debts during the Covid-19 pandemic, the centrality of copper and cobalt to the world’s economic future provides optimism that Zambia is well-placed to become an increasingly important economic and political player on the world stage.