The Critical Minerals Africa 2024 summit on November 6 - 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference on November 4 - 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting [email protected].

EXIM has positioned itself as a reliable partner for African critical mineral-producing countries, providing technical and financial assistance for projects rollout. EXIM is providing a $363 million loan to help construction firm Acrow Corporation supply Angola with 186 modular steel bridges, set to be installed as part of the Lobito Corridor project. EXIM is also supporting the modernization of railway locomotives to support growing mining sectors in Gabon, Senegal and Cameroon. At CMA 2024, Kearney will participate in high-level panel discussions and networking sessions, highlighting EXIM's role in expanding Africa's critical minerals industry and identifying investment opportunities for US companies across the African mining value chain.

Africa boasts 30% of global critical mineral reserves, including copper, cobalt, lithium, nickel and platinum group metals that are crucial for the energy transition and fourth industrial revolution in the US and across the world. With lithium demand anticipated to increase by 40% and cobalt, graphite and nickel demand by 25 times by 2040, US private and public sector entities – with the support of EXIM - are stepping up efforts to accelerate exploration and development of Africa’s critical minerals.

In September 2023, financial institution the U.S. Development Finance Corporation provided mining firm Twigg Exploration and Mining with a $150 million loan to develop the 16.9-million-ton Balama Graphite Project in Mozambique to meet rising demand in America.  In December 2022, the U.S. government entered into agreements with the Democratic Republic of Congo and Zambia to establish a supply chain for electric vehicle batteries, underscoring its strategic interest in both countries’ copper, lithium and cobalt resources. The U.S. – specifically EXIM - is also supporting the rollout of the Lobito Corridor project to facilitate the transportation of critical minerals from Angola, Zambia and the DRC to international markets including the U.S.

“Africa's burgeoning critical mineral industry offers lucrative opportunities for US companies interested in capital injection, technology transfer and import-export opportunities. EXIM's involvement in CMA 2024 underscores the US Government's growing dedication to fostering collaboration with African stakeholders in critical minerals for sustainable development on both continents,” states Rachelle Kasongo, Event & Project Director, Energy Capital & Power.