The United States announced three new projects in Africa’s critical minerals sector over two days, covering Nigeria, the Democratic Republic of Congo (DRC) and Zambia, Business Insider Africa reported.
The plans include a mineral investment framework with Nigeria, a planned copper and cobalt refinery in the DRC and a power project along the Lobito Corridor. Washington wants stronger supply chains for minerals used in technology, energy and defence.
USTDA Deputy Director Thomas R. Hardy said copper and cobalt are among the most important minerals for keeping the US a global leader in technology and defence.
The first step came on 22 September. The US Trade and Development Agency (USTDA) announced a feasibility study to grow hydropower generation and electricity distribution in parts of the DRC and Zambia.
The project aims to improve power supply for copper and cobalt mines along the Lobito Corridor. It is also meant to help more than three million people living in the region.
USTDA said the study is funded by a $3 million grant. The agency said it will also look for chances for US equipment and engineering companies to take part.
A day later, Washington said it would support a planned copper and cobalt refinery in Lualaba Province. This province is the centre of the DRC’s mining industry.
USTDA signed an agreement with Congolese company Buenassa Resources to pay for a pre-feasibility study for the refinery. The plant is expected to make copper and cobalt products for energy, construction, artificial intelligence and defence.
According to USTDA, the study will look at possible suppliers of raw material for the refinery. It will also draw up a technical design and set out the money needed to build and run it over the long term.
The DRC has the largest cobalt deposits in the world. It is also Africa’s biggest copper producer, according to the report.
On the same day, Nigeria and the US signed a framework to draw American investment into Nigeria’s mineral sector. The deal covers geological data and exploration, mineral development and processing, infrastructure and technical skills.
Nigeria’s government has estimated the value of its mineral resources at about $700 billion. The government said its goal is to process minerals at home and add value locally, rather than only export raw materials.
The three projects cover different parts of the mineral supply chain. In Nigeria, the US wants more access to geological information, exploration and mining development.
In the DRC, US support is moving towards processing and refining. Along the Lobito Corridor, which links the region’s copper and cobalt mines to global markets, the US is backing the electricity needed for mining and industry.
Business Insider Africa reported that the moves also open doors for American companies to supply equipment, engineering, technology and expertise across the continent.
Source: this article is based on reporting by Business Insider Africa. Image: Business Insider Africa. Written with the help of AI and published by the Tzaneen Voice Business desk. See our Editorial Standards.
Anelisa Nkuna covers business and money news for Tzaneen Voice. Anelisa reports on the rand, fuel prices, interest rates, jobs, Eskom, Transnet, farming and company results. The aim is simple: explain what the numbers mean for household budgets, small businesses and workers in South Africa.