, in the latest in a string of copper deals by Chinese companies intent on growing their control of the African copper mining industry.
As energy transition unfolds, China and the Middle East have featured heavily in a race to tap Africa’s reserves of critical raw materials needed to power a move away from fossil fuels with oil powers starting to emulate China’s years of investment. IRH, emboldened after buying a 51% stake in Zambia’s Mopani Copper Mines, has said it is seeking more opportunities to expand in critical metals in Zambia and on the continent.
China is aggressively pursuing deals for copper, cobalt and lithium in Africa, as the world’s second-largest economy continues to scour the world for natural resources needed for its rapidly expanding electric vehicle industry.
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