Thanks to Russia, the rush is on to grab Africa’s minerals
With sanctions meaning its riches are no longer available, miners are more willing to risk Africa’s challenges
The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increased the Africa risk appetite for major miners, who have few alternatives to the resource-rich continent.
Companies and investors are considering projects they may have previously overlooked, while governments are also looking to Africa, anxious to ensure their countries can procure enough metals to feed an accelerating net-zero push.
This year’s Investing in African Mining Indaba conference, which runs from Monday to Thursday in Cape Town, will see the highest-ranking US government official in years attending, organisers said, as well as representatives from the Japan Oil, Gas and Metals Corporation (JOGMEC), in a sign of rich countries’ rising concern about securing supply...