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.
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
In preparation for establishing a National Center for Economic and Strategic Intelligence in Cameroon, agents from the General Directorate of External...
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight between Doha and Nairobi. • Part of wider Qatari...
• The third Africa-Spain summit aims to strengthen trade relationships, with bilateral trade totaling approximately $35 billion in the first half of...
• World cereal production estimated to hit 2.925 billion tons in 2025/2026, marking a 2.3% increase from the previous cycle, according to the Food and...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...