Browsing: Purchasing nickel in Africa

DRC President Felix Tshisekedi (pictured), reassures investors through ANAPI, the DRC investment portal, the country is safe and open for business. The statement comes in the wake of a recent extraordinary summit of the EAC Heads of State that resolved for an immediate cease-fire by all parties. Photo/Reuters
  • DRC, through its investment portal ANAPI reassures investors
  • Rwanda slams US statement saying it undermines regional peace process
  • EAC Heads of State order immediate cease fire in Rwanda-DRC conflict

Rwanda should stop supporting the rebel group and withdraw its soldiers from the DRC, the US State Department has said in an official statement.

This US call for Rwanda to ‘cease and desist’ aiding rebel groups and to also recall its troops from the DRC is the latest effort by the international community to intervene in the protracted dispute between the two countries.

The US says Rwanda’s alleged aid to rebel factions in the DRC is undermining the regional peace process.

The statement comes only days after the East African Community (EAC) Heads of State met in the Burundi capital of Bujumbura. The meeting was an Extra-Ordinary Summit held to evaluate the “Security Situation in the Eastern Democratic Republic of Congo

Kabanga Nickel is regarded as class one nickel. Nickel-producing countries in Africa have an opportunity from the Russia-Ukraine crisis.

Countries like China, the United States, Canada, the United Kingdom and Australia have already made significant investments in natural resources mining in Africa such as cobalt, lithium, copper, iron, and gold.

Africa’s top nickel producers are Madagascar, Zambia, Zimbabwe, South Africa and Côte d’Ivoire.

China’s Tsingshan Holding Group is the world’s largest nickel producer and it has an enormous investment in Zimbabwe.

Tsingshan Holding Group, however, faces US$8 billion in trading losses from the Russia-Ukraine crisis due to expectations that nickel prices will go down. In Zimbabwe, the Chinese company is building Africa’s largest iron ore mine and steel plant. The project is expected to be the Southern African country’s largest employer. With the ongoing crisis, losses could put Tsingshan’s investment in Zimbabwe at risk.…