Sovereign wealth funds are Africa’s most quiet revolution
A general view of processing facilities in Tenke Fungurume Mine, one of the largest copper and cobalt mines in the world, in Southeastern Democratic Republic of Congo, on June 17, 2023.
On February 3, the US launched “Project Vault” - a $12 billion strategic critical minerals reserve backed by Boeing, GE Vernova, and General Motors. Weeks earlier, Washington moved to secure a major Congolese lithium stake for a US firm.
China processes roughly 70 percent of the world’s critical minerals. The EU and Gulf states are locking in long-term offtake agreements.
