African Rail Projects Become Battleground For US-China Competition In Strategic Mineral Supply Chains
Portfolio Pulse from Matt Whittaker
The U.S. is increasing its involvement in African mining and infrastructure to compete with China's dominance in strategic mineral supply chains, focusing on the Copperbelt region for cobalt and copper crucial for decarbonization. The U.S. supports the Lobito corridor rail project, which will reduce transportation costs for mining companies like Ivanhoe Mines Ltd, potentially joined by Anglo American, Barrick Gold Corp, and First Quantum Minerals Ltd. This move is part of a broader strategy to secure supplies of essential minerals for renewable energy.
February 12, 2024 | 5:09 pm
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Barrick Gold Corp's mines may connect to the Lobito port via the corridor, potentially improving export efficiency and reducing costs.
The potential connection of Barrick Gold Corp's mines to the Lobito port via the corridor could significantly improve the company's export efficiency and reduce transportation costs, aligning with its strategic interests in the region.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ivanhoe Mines Ltd signs agreement for transport rights along the Lobito corridor, expected to lower transportation costs and enhance copper project viability in the Copperbelt.
The agreement for transport rights along the Lobito corridor directly impacts Ivanhoe Mines Ltd by potentially reducing transportation costs and enhancing the economic viability of its copper projects. This development is significant given the strategic importance of copper for renewable energy technologies.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90