African countries rich in critical minerals are intensifying collaboration with international stakeholders to boost investments across the critical mineral value chain. In line with its commitment to promote international collaboration to ensure the development of responsible, diversified and secure supply chains, the Critical Minerals International Alliance (CMIA) is returning to this year’s Critical Minerals Africa (CMA) Summit as a partner. Olimpia Pilch, CMIA’s Chief Operating Officer (COO), will discuss the importance of collaboration between African critical mineral producers and global stakeholders to navigate industry challenges and maximize opportunities.
The Critical Minerals Africa 2024 summit on November 6 – 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference (http://apo-opa.co/3Yjtg9M) on November 4 – 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.
African countries are leveraging technologies and the expertise of international partners to enhance critical mineral exploration, reserves, and production for GDP growth. In July 2024, the Democratic Republic of Congo (DRC) – which holds the world’s fourth-largest copper reserves – resumed operations at its 140,000 tons per annum Kipushi Mine (http://apo-opa.co/3Somgob) in partnership with Canadian firm Ivanhoe Mines, 30 years after the project was put on hold. Ivanhoe Mines is upgrading the mine’s concentrator to increase output to 960,000 tons per annum, boosting the DRC’s copper production.
“Partnerships with international markets is enabling African countries to enhance their critical mineral value chains. As Africa seeks to untap the full potential of its critical minerals for economic growth, partnerships with the global community is crucial to access funding and technological expertise required for infrastructure development and optimal mineral production,” stated Rachelle Kasongo, Project Director at CMA organizer, Energy Capital&Power.
Zambia is leveraging funding and industry experience of UAE-based global mining firm International Resources Holding (IRH) – which acquired a 51% stake in Mopani Copper Mines (http://apo-opa.co/3y2o6Ez) in a $1.1 billion deal in March 2024 – to increase the project’s output from 72,694 metric tons in 2022 to 200,000 metric tons within the next three years. IRH’s contribution in the Mopani project is crucial in moving Zambia closer to its target of increasing copper output to 3 million tons by 2032 from 2.2 million tons in 2021.
Meanwhile, Zimbabwe is expanding its lithium industry through partnerships with Chinese investors and mining companies including Sinomine Resources and Zhejiang Huayou Cobalt. In April 2024, Chinese mining firm Rwizi Rukuru completed a lithium processing plant in Mutoko (http://apo-opa.co/3yafkEu), advancing Zimbabwe’s agenda to value-add its lithium resources. Another Chinese company, Shengxiang Investments, finished constructing a lithium facility in Goromonzi (http://apo-opa.co/3YdkCJW) in March 2024.
During CMA, Pilch will discuss the impact of geopolitics on Africa’s critical mineral sector, expanding on last year’s discussions. She will participate in high-level panel discussions highlighting how global trends are driving investments in Africa’s critical mineral industry.
Distributed by APO Group on behalf of Energy Capital&Power.