Japan and UK to Jointly Invest in African Critical Minerals for Supply Chain Stability
Japan and the UK have unveiled plans for joint investments in critical minerals in Africa, aiming to enhance the stability of their supply chains originating from the continent.
This collaboration includes efforts to develop mines in African nations and establish a framework for discussing economic security at the ministerial level.
The two countries intend to acquire mining sites and develop refining facilities while partnering with mineral-rich African nations to diversify their sources of supply.
Japan, heavily dependent on China for crucial minerals like cobalt and nickel, is actively seeking partnerships with African countries to secure resources essential for its technology-driven economy.
In August, Japan’s Minister for Economy, Trade and Industry, Yasutoshi Nishimura, visited Namibia, Zambia, the Democratic Republic of the Congo, Angola, and Madagascar to build a robust African supply chain for critical minerals.
Simultaneously, the UK solidified an agreement with Zambia focused on clean energy and critical minerals following a visit by the UK’s Foreign Minister, James Cleverly, to Zambia in August of this year.
This agreement is set to usher in $2.7 billion in British private sector investments in Zambia’s mining, minerals, and renewable energy sectors, accompanied by $537 million in government-backed investments.
Additionally, the UK and South Africa have committed to holding regular ministerial discussions concerning the development of critical minerals and supply chains linking Africa to Europe.
