Browsing: Purchasing nickel in Africa

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.