China has invested over $10 billion in Africa’s mining sector, focusing on critical minerals like cobalt and lithium. This strategy aims to support its hi-tech and defense sectors, putting it ahead of the U.S. in the global mineral race. The Democratic Republic of Congo has been a primary target for these investments, receiving about $1 billion in 2023 alone.
China has positioned itself at the forefront of Africa’s critical minerals race, amassing significant investments that have raised concerns in Washington about the U.S.’s competitiveness. This aggressive pursuit of essential minerals, notably in the wake of escalating needs for technological and energy sector advancements, suggests that China will maintain its leadership position for the foreseeable future.
Over the past years, Chinese companies have invested over $10 billion in acquiring vital mining assets across Africa, primarily targeting minerals such as cobalt, lithium, and rare earth elements. This push has intensified particularly in 2023 and 2024, highlighting China’s strategic approach in securing necessary resources for its hi-tech and defense industries.
According to the Brookings Institution, within two years following the pandemic, China has resumed and even enhanced its economic engagement with Africa, focusing heavily on mining asset acquisitions. Notably, the Democratic Republic of Congo (DRC) has emerged as a crucial site for these investments, attracting nearly $1 billion from Chinese firms in just 2023, primarily due to its status as the world’s largest cobalt producer and a significant source of copper.
In summary, China’s substantial investments in Africa’s mining sector, particularly regarding critical minerals like cobalt and lithium, illustrate its strategic dominance in this field. With a focus on technological and defense requirements, China is likely to sustain its leadership as the U.S. grapples with its competitive position. The DRC’s considerable mineral resources continue to be a focal area for Chinese investments, further solidifying this trend.
Original Source: www.scmp.com
