-1.7 C
Belgrade
Supported byspot_img
spot_img

African Nations enhance critical mineral investments through global partnerships at CMA Summit

Member of Europium Groupspot_img
Supported byspot_img

African countries rich in critical minerals are ramping up their collaboration with global stakeholders to enhance investments throughout the critical mineral value chain. The Critical Minerals International Alliance (CMIA) is reaffirming its commitment to fostering responsible, diversified and secure supply chains by partnering with this year’s Critical Minerals Africa (CMA) Summit. Olimpia Pilch, CMIA’s Chief Operating Officer, will emphasize the importance of international collaboration for overcoming industry challenges and seizing opportunities.

African nations are leveraging international technologies and expertise to boost critical mineral exploration, reserves and production, contributing to GDP growth. For instance, in July 2024, the Democratic Republic of Congo (DRC), home to the world’s fourth-largest copper reserves, resumed operations at the Kipushi Mine in collaboration with Canadian firm Ivanhoe Mines. This partnership is set to enhance output from 140,000 to 960,000 tons per annum, significantly boosting DRC’s copper production.

“Partnerships with global markets are pivotal for African countries to optimize their critical mineral value chains. To fully exploit their mineral potential for economic growth, Africa needs to engage with the international community to access necessary funding and technological expertise for infrastructure and production,” explained Rachelle Kasongo, Project Director at Energy Capital & Power, the CMA organizer.

Supported by

In Zambia, the acquisition of a 51% stake in Mopani Copper Mines by UAE-based International Resources Holding (IRH) for $1.1 billion in March 2024 is set to increase output from 72,694 metric tons in 2022 to 200,000 metric tons in the next three years. This partnership is key to Zambia’s goal of raising copper production to 3 million tons by 2032 from 2.2 million tons in 2021.

Zimbabwe is also advancing its lithium industry through collaborations with Chinese investors. In April 2024, Rwizi Rukuru, a Chinese mining firm, completed a lithium processing plant in Mutoko, while Shengxiang Investments finished constructing a facility in Goromonzi in March 2024.

At the CMA Summit, Pilch will address how geopolitical factors influence Africa’s critical mineral sector, building on last year’s discussions. Her participation in high-level panels will explore how global trends are shaping investments in Africa’s critical mineral industry.

Supported byElevatePR Digital

Related News

India set to decide on import restrictions for metallurgical coke

India is set to make a decision soon on whether to implement import restrictions on metallurgical coke, a crucial ingredient in steelmaking. According to...

AMMC targets major production milestones by 2030 with ongoing development projects

Almalyk Mining and Metallurgical Combine (AMMC) has set ambitious production goals for 2030, aiming to achieve annual output of 500,000 tons of copper, 50...

Kazatomprom partners with Jordan uranium mining company on joint uranium exploration and extraction

Kazatomprom, Kazakhstan's national atomic company, has entered into a collaboration with Jordan Uranium Mining Company (JUMCO) to jointly explore and extract uranium in Jordan....

Saudi Arabia boosts mining sector to secure global mineral supply and support clean energy transition

As part of Saudi Arabia’s Vision 2030 initiative, the country is making significant strides toward creating a sustainable economy driven by clean energy. To...
Supported by
Supported by
Supported by
error: Content is protected !!