The Critical Minerals Africa (CMA) slated for November this year is expected to showcase investment opportunities within Africa's critical minerals and rare earth elements market.
For context, Sub-Saharan Africa is estimated to hold 30 percent of the world's critical mineral reserves including deposits of lithium, cobalt, and copper, which are crucial for the fourth industrial revolution, presenting massive opportunities for global partnership and investment.
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Under the theme Investing in African Critical Minerals in a Competitive Environment, the summit is also expected to explore best practices for attracting buyers and fortifying Africa's critical mineral value chain amid fierce global competition.
Also to be unpacked are recent large-scale developments shedding light on burgeoning opportunities within Africa's critical minerals space.
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For instance, in October 2023, the U.S, European Commission, African Development Bank, and the governments of Zambia, the DR Congo, and Angola signed an agreement to raise $1.3 billion in financing for the transnational Lobito Corridor, which will establish a cost-effective and fast export route for minerals produced from the three African countries.
In the same month, UAE investment platform F9 Capital Management partnered with South African mining firm Q Global Commodities to inject $1 billion of the latter's mining exploration and development scene.
Japan and the U.K. have also committed to allocating over $3.7 billion to critical mineral production in Africa, exemplifying growing investor interest in Africa's mineral-rich landscape.
Meanwhile, African nations are engaging in direct negotiations and streamlining permitting processes to expedite exploration activities.
Just recently, Zambia's Ministry for Mines approved drilling activities by KoBold Metals Company at the $2-billion, 600,000-metric-ton Konkola West Copper Project, following the discovery of copper reserves in early 2023.
The Zambian Government has also approved the acquisition of a 51 percent stake in Mopani Copper Mines by mining company International Resources Holding, paving the way for new exploration and development.
As global demand for critical minerals continues to surge, Africa emerges as a promising investment hub.
