Much is happening in the field of critical minerals in Africa, as governments have become more interested in creating value and making strategic partnerships. Africa critical minerals race, As a result of the increased global demand for minerals required for electric vehicles, renewable energy, and manufacturing industries, the policy of countries in this continent concerning mineral exports has changed.
Recent news about new agreements, local processing, and investments in graphite, copper, lithium, and rare earth minerals confirms that. More government policies are created to ensure that more economic value stays in the country and does not leave Africa.
Malawi’s Graphite Industry Enters a New Era
One of the latest big moves comes from Malawi, where Rio Tinto is withdrawing from running the Kasiya Rutile-Graphite Project.
The Kasiya project is considered one of the world’s biggest undeveloped natural graphite and rutile reserves. Following the acquisition of Sovereign Metals’ development interests, the project will continue contributing significantly to the rising graphite industry in Africa.
With battery manufacturers searching for alternative sources of graphite supplies other than China, experts believe that Africa might become one of the fastest-growing sources of graphite supply after China in the next few decades.
Namibia, Zambia, and Zimbabwe Receive New Investments
Southern Africa maintains its dominance in the global battery minerals trade.
Recently, Namibia and China agreed on eight new cooperation deals within such sectors as lithium, uranium, and mineral processing. The key emphasis of this cooperation deal is technology transfer and growth of processing capacities instead of exporting the unprocessed minerals.
Moreover, the Chinese mining company Sinomine Resource Group received almost $760 million to boost lithium sulphate production projects in Zimbabwe as well as expand Kitumba Copper Mine in Zambia.
These investments are proof of rising interest in Southern Africa’s mineral resources and the need for processing facilities in the region.
Critical Minerals Partnership in Kenya
Kenya is developing its engagement with the continent’s critical minerals value chain.
This has been done through the establishment of a strategic minerals partnership with the United States, which seeks to promote investments while increasing the processing of minerals in Kenya, rather than processing elsewhere.
The partnership will help Kenya achieve its dream of becoming the processing center for East Africa, through local manufacturing and development associated with the green energy revolution.
Many governments on the continent are now considering domestic processing of minerals as key to getting additional gains from their exports.
Restrictive Export Controls
Several governments in Africa are introducing export controls, which aim to promote local beneficiation.
Namibia has banned the export of unprocessed lithium, cobalt, manganese, and graphite. This requires companies to invest in processing to increase the value of mineral exports.
Such restrictive export controls are being considered and even introduced in other mineral-endowed nations in the region.
Demand for Critical Minerals Is on the Upswing
The world’s demand for battery minerals does not appear likely to diminish.
Based on projections by the International Energy Agency (IEA), global demand for lithium is forecasted to quintuple by 2040, and graphite demand is estimated to double over the same period. The rapid proliferation of electric vehicles, renewable energy sources, and battery technology remains the driving force behind the battle for minerals.
This means that the mineral wealth of Africa has become increasingly relevant.
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