China leads in Africa’s critical minerals sector, having invested over US$10 billion in acquisitions. With a focus on cobalt, lithium, and rare earths, especially in the Democratic Republic of Congo, China’s established position poses challenges for the US, which struggles to maintain competitiveness in this critical area.
China continues to dominate the race for critical minerals in Africa, posing a challenge for the United States as it strives to keep pace. With years of substantial investments, totaling billions, into Africa’s mining sector, Beijing’s efforts are beginning to yield significant results. Experts suggest that with this established advantage, China is well-positioned to maintain its lead in securing resources necessary for its high-tech industries and defense capabilities.
The competitive landscape reveals that China’s strategic acquisitions span countries such as the Democratic Republic of Congo (DRC), Botswana, and Zimbabwe. Chinese firms have invested over US$10 billion in mining and critical mineral assets across Africa, with the majority of these investments occurring in 2023 and 2024. The accelerated investment in minerals such as cobalt and lithium has been particularly pronounced.
Notably, the DRC stands out as the world’s largest producer of cobalt and a vital source of copper, making it a prime target for Chinese investors. The DRC alone attracted approximately US$1 billion in Chinese investment in 2023, underscoring its significance in the global minerals market. Following a period of pandemic-related disruptions, China has steadily resumed its economic engagement with Africa, focusing heavily on acquiring essential mining assets.
In summary, China’s robust investment strategy in Africa’s mining sector has positioned it ahead in the critical minerals race. With a focus on vital resources like cobalt and lithium, particularly in the DRC, China’s sustained economic engagement highlights its commitment to supporting its technological and defense initiatives. The challenges facing the United States in catching up are substantial, given China’s established lead and ongoing investments.
Original Source: www.scmp.com
