The US is using offtake deals and state-backed funding to compete in the short term with China in securing supplies of ⁠African copper, cobalt and other critical minerals, diplomats, executives and analysts said ahead of this week's Indaba. Xiao Wenhao, analyst at Shanghai Metals Market, said China's cobalt supply chain also faces risks as Congo's export restrictions collide with expanding US-DRC cooperation. "This is the US deploying financial firepower rather than industrial presence," said Vincent Rouget, analyst at Control Risks. "With offtake and trading channels, Washington can redirect Congolese copper to American buyers without taking on the political or operational risks of running mines in the DRC. "Chinese firms still control many ‍of Congo's biggest copper and cobalt assets, including Tenke Fungurume and Kamoa-Kakula, and have routed most output to China for refining for more than a decade.

Source: Economic Times February 09, 2026 06:33 UTC