Africa’s Investment Outlook in Focus at the Critical Minerals Africa Summit

The Critical Minerals Africa (CMA) summit scheduled for 6th – 7th November 2024, in Cape Town, will host a panel discussion showcasing investment opportunities within Africa’s critical minerals and rare earth elements market.

Sub-Saharan Africa is estimated to hold 30% of the world’s critical minerals reserves – including deposits of lithium, cobalt and copper, which are crucial for the fourth industrial revolution – presenting massive opportunities for global partnership and investment. The panel – titled, Investing in African Critical Minerals in a Competitive Environment – will explore best practices for attracting buyers and fortifying Africa’s critical mineral value chain amid fierce global competition.

Recent large-scale developments will be unpacked at CMA 2024, shedding light on burgeoning opportunities within Africa’s critical minerals space. Last October, the U.S., European Commission, African Development Bank and the governments of Zambia, the DRC and Angola signed an agreement to raise US$1.3 billion in financing for the transnational Lobito Corridor, which will establish a cost-effective and fast export route for minerals produced from the three African countries.

In the same month, UAE investment platform F9 Capital Management partnered with South African mining firm Q Global Commodities to inject US$1 billion in South Africa’s mining exploration and development scene. Japan and the U.K. have also committed to allocating over US$3.7 billion to critical mineral production in Africa, exemplifying growing investor interest in Africa’s mineral-rich landscape.

Meanwhile, African nations are engaging in direct negotiations and streamlining permitting processes to expedite exploration activities. Last month, Zambia’s Ministry for Mines approved drilling activities by KoBold Metals Company at the US$2-billion, 600,000-metric-ton Konkola West Copper Project, following the discovery of copper reserves last February. The Zambian Government has also approved the acquisition of a 51% stake in Mopani Copper Mines by mining company International Resources Holding, paving the way for new exploration and development.

As global demand for critical minerals continues to surge, Africa emerges as a promising investment hub. The panel discussion at CMA 2024 will identify strategies for creating an enabling environment and fostering Africa’s competitiveness on the global critical minerals stage.

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