The upcoming Critical Minerals Africa (CMA) conference, scheduled for November this year, is poised to spotlight investment prospects within Africa’s critical minerals and rare earth elements market.
With Sub-Saharan Africa reportedly harboring 30 percent of the world’s critical mineral reserves, including lithium, cobalt, and copper essential for the fourth industrial revolution, the region presents substantial opportunities for global collaboration and investment.
Themed “Investing in African Critical Minerals in a Competitive Environment,” the summit aims to delve into strategies for attracting investors and bolstering Africa’s critical mineral value chain amid intense global competition.
The event will also unpack recent significant developments highlighting burgeoning opportunities within Africa’s critical minerals sector.
For instance, in October 2023, an agreement was inked by the U.S, European Commission, African Development Bank, and the governments of Zambia, the DR Congo, and Angola, securing $1.3 billion in financing for the transnational Lobito Corridor. This initiative aims to establish a cost-effective and swift export route for minerals from the three African nations.
Additionally, UAE investment platform F9 Capital Management joined forces with South African mining firm Q Global Commodities in October 2023, injecting $1 billion into the latter’s mining exploration and development efforts.
Japan and the U.K. have also pledged more than $3.7 billion toward critical mineral production in Africa, signaling growing investor interest in the continent’s mineral-rich landscape.
Simultaneously, African nations are engaging in direct negotiations and streamlining permitting processes to accelerate exploration activities.
Recently, Zambia’s Ministry for Mines greenlit drilling operations 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.
Moreover, the Zambian Government approved mining company International Resources Holding’s acquisition of a 51 percent stake in Mopani Copper Mines, paving the way for new exploration and development ventures.
With global demand for critical minerals on the rise, Africa emerges as a promising investment destination.
