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Browsing: Critical minerals in Africa
- This is the first critical raw materials agreement between the European Investment Bank (EIB), the world’s largest international public bank, and an African partner.
- The collaboration aims to address the growing global demand for critical raw materials, including base metals, battery materials, and rare earths.
- EIB Global technical and financing teams will increase cooperation with critical raw material partners to explore new investment opportunities in Rwanda.
In a first of its kind in Africa, Rwanda has entered into a partnership with the European Investment Bank (EIB), aiming to enhance the country’s investments in the critical raw material supply chain and boost recycling.
Notably, this agreement marks the first critical raw materials collaboration between the European Investment Bank, the world’s largest international public bank, and an African country.
The alliance between the EIB and Rwanda signifies a collective effort to promote sustainable development, strengthen the country’s economic ties with Europe, and …
- Africa holds more than half of the world’s reserves of cobalt, 46% of its manganese, and 21% of its graphite, all used in EV batteries, and about a quarter of its bauxite, which is required for solar photovoltaic technologies.
- For decades, Africa has allowed her raw materials, including oil and natural gas, to be exported raw, without a chance to benefit from the finished product.
- As a result, we’ve missed out on the job creation, industrialization, and economic diversification.
To meet their green agendas, the European Union, US, and China are engaged in the modern-day equivalent of a gold rush. This time, though, fortune seekers aren’t panning for shiny nuggets in Canada, America, or Australia. Instead, all eyes are on the critical minerals of Africa—cobalt, graphite, lithium, and others—raw materials essential to the production of clean technology, including electric vehicles (EV).
To say that Africa is generously endowed in this …
