China still leads the pack in Africa’s critical minerals race as US struggles to keep up
China's aggressive pursuit of critical minerals in Africa, particularly cobalt, lithium, and rare earths, has sparked concerns in Washington and ignited a global rare earths race. Experts believe China is unlikely to lose its leading position due to its two-year head start and the critical need to fuel its hi-tech electronics, renewable energy, and defense systems.
Chinese companies have invested over US$10 billion in acquiring mining and critical mineral assets in African countries like the Democratic Republic of Congo (DRC), Botswana, and Zimbabwe, primarily in 2023 and 2024. The DRC, a major cobalt and copper producer, has been a focal point for Chinese investments, attracting approximately US$1 billion in 2023 alone. However, the United States is reportedly in talks with the DRC to secure access to its critical minerals in exchange for military support, signaling a potential shift in the landscape.
via SCMP Full Text Feed
China's aggressive pursuit of critical minerals in Africa, particularly cobalt, lithium, and rare earths, has sparked concerns in Washington and ignited a global rare earths race. Experts believe China is unlikely to lose its leading position due to its two-year head start and the critical need to fuel its hi-tech electronics, renewable energy, and defense systems.
Chinese companies have invested over US$10 billion in acquiring mining and critical mineral assets in African countries like the Democratic Republic of Congo (DRC), Botswana, and Zimbabwe, primarily in 2023 and 2024. The DRC, a major cobalt and copper producer, has been a focal point for Chinese investments, attracting approximately US$1 billion in 2023 alone. However, the United States is reportedly in talks with the DRC to secure access to its critical minerals in exchange for military support, signaling a potential shift in the landscape.
via SCMP Full Text Feed
