China is currently processing a big part of critical materials, including lithium or cobalt, in its territory. These deals will facilitate access to critical materials and will be part of the bloc’s broader effort to develop the strategic Lobito/trans-Africa corridor, a railway project to connect Angola, the DRC and Zambia to allow for shipping raw materials and minerals across the Atlantic. The EU woke up to its dependence on foreign powers for the critical raw materials late in the game, developing its first strategies on raw materials in the late 2000s. “Lithium and rare earths will soon be more important than oil and gas,” European Commission President Ursula von der Leyen said in 2022. “Our demand for rare earths alone will increase fivefold by 2030.”

Source: The North Africa Journal October 02, 2023 23:11 UTC