Multinational commodity trader Trafigura and Kamoa-Kakula entered a long-term agreement with the Lobito Atlantic Railway consortium to transport critical minerals via the Lobito corridor in February 2024. In addition, Canadian mining firm Ivanhoe Mines made its inaugural copper shipment from the Kamoa-Kakula Copper Complex in the DRC via the corridor, reducing transit time from 25 days to 8 days. The developments highlight the pivotal role of regional critical minerals value chains, such as the Lobito Corridor (https://apo-opa.co/3QjkFPJ), in streamlining the trading of critical minerals and fostering socioeconomic development.
The Critical Minerals Africa (CMA) Summit, taking place on 6–7 November in Cape Town, will host a panel discussion exploring the role of the Lobito Corridor in supporting large-scale projects to advance resource monetization.
With the DRC, Zambia and Angola intensifying the exploitation of critical minerals to bolster export revenue, the Lobito Corridor serves as a blueprint for attracting fresh investments to advance infrastructure and mining developments.
Underlining the project’s significance, the U.S. International Development Finance Corporation (https://apo-opa.co/3JzuAN1) announced new financing and its long-term commitment towards the development and success of the Lobito Corridor project in February 2024.
The European Commission also signed an agreement with the DRC and Zambian governments to provide funding and technical support for the development of the initiative as part of the bloc’s Global Gateway in October 2023. The agreement followed seven signatories, including the United States, Africa Finance Corporation and the African Development Bank (AfDB), signing a deal to fund the project in October 2023. The AfDB committed $500 million towards the initiative as part of the deal. Prior to these commitments, the Lobito Atlantic Railway announced substantial investments in infrastructure development on both the Angolan and DRC sides.
Entitled ‘The Lobito Corridor: Driving Economic Transformation in DRC, Zambia, and Angola’, the panel discussion at CMA 2024 will delve into best practices for Angola, the DRC and Zambia to maximize the flow of investments to advance their critical minerals value chains amid increasing global demand for raw materials.
Organized by Energy Capital&Power, CMA is the largest dedicated gathering of critical minerals stakeholders in Africa. Taking place on November 6–7 in Cape Town, the event positions Africa as the primary investment destination for critical minerals. This year’s edition takes place under the theme ‘Innovate, Enact, Invest in African Critical Minerals to Sustain Global Growth’, connecting African mining projects and regulators with global investors and stakeholders to unlock the full potential of the continent’s raw materials. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.
Distributed by APO Group on behalf of Energy Capital&Power.
