June 22, 2024
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RENEWABLE ENERGY

CMA Summit to Highlight Africa’s Critical Minerals Sector

The Critical Minerals Africa (CMA) summit, set for November 6–7 in Cape Town, will feature a panel discussion spotlighting investment prospects in Africa’s critical minerals and rare earth elements market.

Sub-Saharan Africa holds approximately 30% of the world’s critical minerals reserves, including lithium, cobalt, and copper, vital for the fourth industrial revolution. This presents significant opportunities for global collaboration and investment. The panel, titled “Investing in African Critical Minerals in a Competitive Environment,” will delve into strategies for attracting buyers and strengthening Africa’s critical mineral value chain amid intense global competition.

CMA 2024 will unveil recent major developments, showcasing burgeoning opportunities within Africa’s critical minerals sector. Last October, a consortium including the U.S., European Commission, African Development Bank, and the governments of Zambia, the DRC, and Angola inked a deal to raise $1.3 billion for the transnational Lobito Corridor, facilitating efficient mineral exports from these African nations.

Simultaneously, UAE’s F9 Capital Management partnered with South African firm Q Global Commodities, committing $1 billion to South Africa’s mining exploration and development. Japan and the U.K. have also pledged over $3.7 billion to critical mineral production in Africa, signaling increasing investor interest.

African nations are also actively engaging in negotiations and streamlining permitting processes to accelerate exploration efforts. Recently, Zambia’s Ministry for Mines greenlit drilling activities by KoBold Metals Company at the $2 billion Konkola West Copper Project, following copper reserve discoveries in February. Zambia has further approved International Resources Holding’s acquisition of a 51% stake in Mopani Copper Mines, facilitating new exploration and development initiatives.

With global demand for critical minerals on the rise, Africa emerges as a promising investment destination. The CMA 2024 panel discussion will identify strategies for fostering an enabling environment and enhancing Africa’s competitiveness on the global critical minerals stage.

Africa Capital & Power reports that CMA stands as the premier gathering of critical minerals stakeholders in Africa, convening in Cape Town on November 6–7. This year’s event, themed “Innovate, Enact, Invest in African Critical Minerals to Sustain Global Growth,” aims to connect African mining projects and regulators with global investors and stakeholders to unleash the continent’s raw material potential.

 

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