Manoj Ramdin’s Post

Ivanhoe has agreed to use the Lobito Corridor for its copper exports from Kamoa-Kakula in DRC. This is a positive development for the project's funders and contractors. It also aims to increase US's role in the region's economic growth. Interestingly, the railway line in Angola was built by China, and Zijin, a Chinese firm, co-owns the mine. This project is seen as a challenge to China's dominance in Africa. I guess in business, there are no friends, only self-interest and profit. https://lnkd.in/dA2-z72c.

They are running around taking 1cent dollar bribes than focusing creating local values stupidly believing in International Monetary Fund and The World Bank . To these Nigerians abroad calling themselves smart you need to step in and change your country not these corrupt crocodiles .In Francophone Africa we have started and nothing will stop us. Nigeria struggles to provide energy to its citizens, yet it's ready to engage in pipelines to supply gas to Morocco and Europe. It's time to choose human beings, not monkeys, to lead your countries. In a world that wants African minerals but not Africans, Saudi Arabia is betting on the continent's resources to become a minerals and industrial powerhouse. With over $2.5 trillion in potential riches under its soil, Saudi Arabia plans to invest abroad, refining, processing, and manufacturing based on raw minerals mined elsewhere. Khalid al-Mudaifer, the vice minister for mining, acknowledges that infrastructure is a key challenge to unlocking the full potential of African mineral resources. The kingdom pledges to help build up African countries' capacity to refine minerals into more lucrative products, thereby capturing more of the economic value of their resources. Saudi Arabia's focus is on addressing the shortage of infrastructure in African countries rich in critical minerals.

#HistoryHasIt that the second attempt at commercial oil exploration in Nigeria began after the First World War. In February 1921, a subsidiary of Anglo-Persian Oil Company named D'Arcy Exploration Corporation obtained a mining concession from the colonial government that spanned from Nigeria's western border with Dahomey, to the Akassa Mouth of River Niger, and extending 80 kilometers inland from the sea. That June, an exploration license was granted to Whitehall Petroleum Corporation, covering the area from the Akassa Mouth, to the boundary of British Cameroons in the east, extending from the coast, to the latitude parallel seven degrees north of the equator.   Early exploration in Nigeria had shown the possibilities of commercial quantities, but came to a halt due to financial difficulties, imperial disinterest, and the onset of war in 1914. As it turned out, neither D'Arcy nor Whitehall was successful. D'Arcy failed to renew its license in 1924, and one expert suggests that its initial enthusiasm may have been dampened by subsequent findings discounting the viability of their concession. This lead the company to make minimal investments and eventually pull out. On its part, Whitehall gave up its concession after nine months, citing unfavorable terms. Ownership of crude reserves was an economic, strategic and military priority for the British Empire but the second phase of exploration in Nigeria yielded no fruits.   #nigeria #crudeoil #petroleum #oil #lagos #benin #africa #colonialism #capitalism #bitumen #lignite #monopoly #trade #british   Sources: Phia Steyn (2009) Oil Exploration in Colonial Nigeria, c. 1903–58.

Saudi Arabia has huge ambitions in the critical minerals sector and has identified Africa as a big investment opportunity. 📍This comes at an opportune time when several African countries are exploring ways to process minerals at home in order to drive the economic development of their countries.  📍It is good to see that high on the agenda of Saudi’s priorities includes helping African countries to build up their infrastructure and capacity 📍This will support the local processing of raw minerals, allowing Africa to capture more of the economic value of their resources. While Saudi’s plans to invest in African critical minerals could hold a great opportunity for the continent, it is vital to ensure governments and investors work together to ensure this is carried our properly, ensuring sustainable development and economic growth for both parties. Read more - https://lnkd.in/dyqnGcfp

A fascinating article shedding light on a new scramble for Africa, but with a post-colonial twist. The Copperbelt, which straddles northern Zambia and the southern part of Congo, still holds some of the world's richest deposits of copper and cobalt. Western governments and industry players seem to have realized that if they are strategically short of energy transition metals, there's only one place to head - the continent of Africa. DRC's President Felix Tshisekedi's government is taking a harder line with some of the Chinese investment deals struck under his predecessor Joseph Kabila. Could this be a signal for a newfound friendship with Western governments, or is the U.S. finally waking up from its long nap and just now reading its "cables"? #Africa #Copper #Cobalt #EnergyTransition #Investment #China #U.S.

The Lobito Corridor, spanning from Zambia and the Democratic Republic of the Congo to the Angolese port of Lobito, represents a massive initiative aimed at countering China’s influence in the region. This ambitious project involves constructing approximately 800 kilometers of new railway tracks across Africa. Initial funding of $1.6 billion will facilitate the acquisition of 1,500 wagons, 35 locomotives, and the enhancement of existing rail infrastructure and port facilities. Additionally, the United States has pledged an extra $2.3 billion for the railway, as well as associated mining and refinery ventures, primarily through loans from institutions like the Development Finance Corporation and the Export-Import Bank. The potential benefits of the Lobito Corridor are immense, given that the Congo and Zambia are leading producers of copper in Africa, collectively accounting for millions of tons of production. Copper holds significant importance in the manufacturing of electric batteries, wind turbines, and electric vehicle charging stations. Moreover, Angola boasts abundant natural resources, with reserves spanning a wide array of minerals crucial for green technology.

An Australian-first rare earths and critical minerals project in Dubbo, regional NSW, has taken a material step forward after Australian Strategic Materials (ASM) received financial backing from a US export credit agency.   Export-Import Bank of the United States (USEXIM) signed a non-binding and conditional Letter of Interest to provide a debt funding package of up to $923 million (USD$600 million) for the construction of the rare earths mine, which will support the company’s metals refinery in Korea.   The funding will go towards the construction phase of the Dubbo Project, showcasing the new opportunities between Australia and the US to achieve bilateral objectives.   #criticalminerals #rareearths #dubbo #regionalnsw #investmentopportunities #InvestRegionalNSW #ASM

When it comes to the basic minerals (nickel, lithium and cobalt) to power the E-economy, China has the world by the balls. China has diligently acquired and developed mineral deposits around the world, piling investment upon investment. Although Western companies are moving to develop mineral projects at home and abroad, China’s head start and government controlled economy means those projects can’t compete when China floods the market with cheap nickel, lithium and cobalt. In 2023, non-Chinese investment in refined cobalt declined to the lowest level in 15 years. Chinese lithium mining as a percentage grew from 14% in 2018 to 35% in 2023. China now controls 70% of lithium processing. The article compares China to the U.S.: Chinese miners are “deep-pocketed and aggressive” willing to take on risks U.S. companies & shareholders won’t, State-run banks in China will lend to risky projects, while U.S. companies struggle to get loans and Chinese projects get developed quickly with “simple straight-forward engineering capability that the Chinese have that has been lost in the rest of the world.” Query: Do we still have the policy and industrial capacity to respond to this market threat in a serious way? #mining #energytransition #China

Africa: Report - US Must Enhance Critical Minerals Strategy in Africa

🌍 Africa: A Prime Destination for Steel and Minerals Investment 🌍 Africa is rapidly becoming a key player in the global steel and minerals market, presenting unparalleled opportunities for investors. With vast untapped mineral reserves, increasing infrastructure projects, and strategic positioning between major markets, the continent is poised for exponential growth in industrial commodities. 🔑 Key Drivers: 1. Infrastructure Growth: Massive investment in roads, bridges, and energy projects is driving high demand for steel. 2. Untapped Resources: Rich deposits of iron ore, cobalt, and precious metals offer significant exploration opportunities. 3. Green Steel Potential: Africa’s renewable energy resources enable the production of sustainable, low-carbon steel. With government support, improved regulations, and rising global demand for commodities, Africa is the right place to invest in the future of the steel and minerals industry. 🌱 #SteelInvestment #Minerals #Africa #Infrastructure #Sustainability #GlobalGrowth