Global powers race for control of Africa's minerals to power green technology boom

Race to access critical minerals as demand soars for green technologies like electric vehicles and renewable energy. Countries aim to reduce dependence on concentrated supply controlled by China.
Africa holds over 30% of global mineral reserves, including substantial cobalt, manganese, graphite. But "resource curse" and lack of infrastructure have hindered development.
China dominates investments in Africa's minerals, notably in DRC's cobalt and Zimbabwe's lithium. Concerns persist about exploitation.
US and Europe pushing back against China's influence via commercial diplomacy and trade deals to secure African mineral supply chains.
India also sees opportunity, providing credit to African nations and urging domestic companies to source lithium, cobalt and other critical minerals.

livemint.com

Relevant topic timeline:

8/27/2023

India's Modi urges nations with critical minerals to see custodianship as 'global responsibility'

Indian Prime Minister Narendra Modi warned that there is a risk of a "new model of colonialism" if nations with critical minerals do not see it as a global responsibility, as the race to secure resources for energy transition goals intensifies. Modi emphasized the need for cooperation in the face of uneven geographical diversification and export restrictions imposed by countries like China.

8/27/2023

15 Most Respected Countries In Africa

Africa's potential for economic growth is hindered by macroeconomic factors and a struggling mining sector, but the continent's large population and rich resources offer opportunities for transformation and development; countries with higher exports, such as Cameroon, Ethiopia, Zambia, Tanzania, and Kenya, are among the most respected countries in Africa.

9/5/2023

Oil Updates — crude prices mixed as China’s economic woes offset

The head of the International Energy Agency has called on the US and China to put aside their differences and collaborate on climate change, warning that geopolitical tensions are impeding the transition to clean energy. He also emphasized Africa's potential to play a significant role in the energy transition and urged the international community to support the continent in realizing its renewable energy potential.

9/21/2023

China seeks to strengthen ties with Southeast Asia through Belt and Road Initiative despite domestic woes

China sees Southeast Asia as geopolitically important and will prioritize investments in the region to counter U.S. influence, despite slowing domestic growth, according to economists. Additionally, Southeast Asia is a crucial source of critical minerals for China's green technology and electric vehicle ambitions.

Topics

Posted 9/10/2023, 12:19:30 PM

Global powers race for control of Africa's minerals to power green technology boom

Race to access critical minerals as demand soars for green technologies like electric vehicles and renewable energy. Countries aim to reduce dependence on concentrated supply controlled by China.
Africa holds over 30% of global mineral reserves, including substantial cobalt, manganese, graphite. But "resource curse" and lack of infrastructure have hindered development.
China dominates investments in Africa's minerals, notably in DRC's cobalt and Zimbabwe's lithium. Concerns persist about exploitation.
US and Europe pushing back against China's influence via commercial diplomacy and trade deals to secure African mineral supply chains.
India also sees opportunity, providing credit to African nations and urging domestic companies to source lithium, cobalt and other critical minerals.

livemint.com

Relevant topic timeline:

8/27/2023

India's Modi urges nations with critical minerals to see custodianship as 'global responsibility'

8/27/2023

15 Most Respected Countries In Africa

9/5/2023

Oil Updates — crude prices mixed as China’s economic woes offset

9/21/2023

China seeks to strengthen ties with Southeast Asia through Belt and Road Initiative despite domestic woes