Amidst the fierce competition for control of Africa’s mineral resources, a fierce battle is looming among the world’s economic giants. Recent news reveals that Japan’s Mitsui & Co. has set its sights on the Zambian copper mines owned by First Quantum Minerals, challenging Saudi Arabia’s Manara Minerals. This all-out fight to acquire stakes in Zambia’s Sentinel and Kansanshi copper mines is a testament to the strategic importance of critical minerals in the balance of economic power.
According to unofficial sources, Mitsui has offered over $2 billion to secure a 20% stake in these valuable mines, beating Manara’s offer. This competition echoes a global trend where major powers are seeking to secure access to essential raw materials for their industries. Zambian copper, whose production is expected to reach 375,000 tonnes in 2024, is attracting growing interest in a context of constantly increasing global demand.
This rush for African mineral resources is not limited to copper. Japan and Saudi Arabia are engaged in a real race for critical minerals, such as rare earths in Namibia, nickel in Tanzania and cobalt in the Democratic Republic of Congo. These strategic alliances aim to guarantee the supply of metals essential to the technological and energy industry of tomorrow.
Faced with the prospect of a global deficit of 4 million tonnes of copper by 2030, the stakes of this competition are becoming crucial. Analysts predict a growing demand for critical minerals, while supply risks not keeping pace. In this context, mining partnerships between emerging powers and African countries are multiplying, outlining the contours of a new geopolitics of resources.
In short, the battle for control of minerals in Africa is being played out at all levels, from diplomacy to financial negotiations. This frantic race is a testament to the strategic importance of mineral resources in a world seeking energy and technological sovereignty. Who will win the great game of rare resources in Africa? Time will tell.