China is one of the main foreign investors active in Africa's mining sector. With a presence in several copper mines in the Democratic Republic of Congo and Zambia, Chinese companies constantly seek new assets, as competition mounts.
Chinese firm JCHX Mining is on the verge of closing the purchase of the Lubambe copper mine in Zambia. This was reported by Reuters which noted that the Emirati International Resources Holding (IRH) exited the race to buy the project.
In March 2023, the Emirati revealed it wanted to acquire the asset. At the time, EMR Capital, the owner, and JCHX already had a deal. If successful, Chinese investors would record a new win.
Zambia is Africa's second-largest copper producer, with around 700,000 tonnes of copper produced by its mines in 2023. The government, which holds a 20% stake in the Lubambe project, aims to increase the country's annual production to 3 million tonnes by 2030 and is seeking investments to achieve this goal.
Competition to grow further
China should face greater competition in coming years as more and more companies are eager to secure Africa’s minerals, especially those essential to the energy transition; a dynamic spurred by a growing demand for these minerals. Last year, IRH outbid Chinese company Zijin Mining, acquiring Mopani Copper Mines' assets in Zambia. The Emirati acquired a majority stake in Mopani Copper Mines through a $1.1 billion investment and plans to dedicate $1 billion to other mining asset acquisitions in Africa this year.
Africa hosts approximately 30% of the world's strategic mineral reserves, including copper, cobalt, and lithium.
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • New 1% US tax on outbound remittances to take effect January 1, 2026• Africa received $100 billion in remittances in 2023, outpacing...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...