Legal action over huge lithium project in DR Congo on hold as US battles China's dominance
Democratic Republic of Congo until later this month, following US encouragement to resolve the dispute over the massive
Manono lithium project
The suspension, announced last week, comes as the
US backs start-up KoBold Metals – funded by tech billionaires including Bill Gates and Jeff Bezos – to acquire AVZ's stake in Manono.
If successful, KoBold will pledge US$1 billion (7.2 billion yuan) to develop the project, countering
China 's Zijin Mining, which controls the northern section after Congo revoked AVZ's rights in 2023. However, KoBold is a relatively small entity compared to CMOC Group, CNMC, and other Chinese mining companies in the African country.
AVZ said in a statement last week that 'the United States Government has encouraged the parties to take whatever steps are necessary to allow for a climate conducive to discussions leading to a meaningful settlement between the DRC and AVZ'.
The move signals Washington's growing efforts to secure
critical minerals in Congo , directly challenging China's dominance in the country over control of critical minerals such as lithium and copper, vital for the global green energy transition.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
a day ago
- South China Morning Post
China arms Burkina Faso as Sahel turns away from Western security promises
China is equipping Burkina Faso 's military and positioning itself for greater influence in the Sahel, filling a vacuum left by the collapse of security partnerships with Western nations, especially the United States and France. The move is part of a broader modernisation plan that the Burkinabe government, headed by junta leader Ibrahim Traoré , announced in late 2023 amid growing insecurity waged by jihadist militants, mostly affiliated with al-Qaeda and Islamic State After a complex diplomatic history that saw relations first established in 1973 and then severed in 1994, China officially re-established diplomatic ties with Burkina Faso in 2018. While Ouagadougou had historically sourced some arms from China, the restoration of relations set the stage for large-scale military cooperation , which began in 2024 with the signing of a multiphase deal with the Chinese state-owned defence contractor, China North Industries Group Corporation or Norinco. The country has received at least four major consignments from China since early 2024. The latest delivery, filmed at a port facility earlier this month, included VN22B fire support vehicles, PLL-05 120mm self-propelled gun-mortar systems and SR5 rocket launch systems, according to Military Africa, a news platform on African defence, security and military affairs.
South China Morning Post
3 days ago
- South China Morning Post
Mali junta arrests generals and suspected French agent over alleged coup plot
The authorities in Mali on Thursday said a French national had been arrested on suspicion of working for French intelligence services, and accused 'foreign states' of trying to destabilise the country. Advertisement The ruling junta, which came to power after back-to-back coups in 2020 and 2021, also said that dozens of soldiers had been detained in recent days for allegedly seeking to overthrow the government. Impoverished Mali has been gripped by a security crisis since 2012, fuelled notably by violence from groups affiliated with al-Qaeda and the Islamic State jihadist group, as well as local criminal gangs. In a statement read on national television, the military said 'fringe elements of the Malian armed security forces' were held for seeking to 'destabilise the institutions of the republic'. 'These soldiers and civilians' are said to have obtained 'the help of foreign states', the government said. Advertisement The French national was held on suspicion of working 'on behalf of the French intelligence service'.
South China Morning Post
3 days ago
- South China Morning Post
China and Australia ready for ‘more productive' relationship, Beijing's ambassador says
China and Australia are ready to 'move beyond' stabilising relations and aim for 'more productive' economic cooperation, according to Beijing's ambassador Xiao Qian. There could be a 'closer alignment' between the Australian mining and Chinese manufacturing sectors through 'joint exploration, technology sharing and capacity enhancement', Xiao told a trade expo on Thursday. He said both countries had 'highly compatible' development strategies and 'can fully complement each other's strengths, collaborate in a coordinated manner and jointly build green, secure and sustainable' industrial chains. Earlier this week, the Australian mining giant Fortescue announced it had secured an offshore yuan-denominated loan worth 14.2 billion yuan (US$1.98 billion) from a syndicate led by Bank of China to support its decarbonisation plans. China has been Australia's largest trading partner, export market and source of imports for the past 16 years. However, after ties soured in 2019 and 2020, Australian goods were hit by a series of export curbs that Beijing only lifted at the end of last year.
