Latest news with #LobitoCorridor
Zawya
02-05-2025
- Business
- Zawya
African Mining Week (AMW) 2025 to Host Africa-Europe Mining Cooperation Dialogue
As home to 30% of the world's critical minerals – resources essential to Europe's Green Deal and broader energy transition goals – Africa is attracting heightened interest from European investors and institutions. Taking place from October 1–3, 2025 in Cape Town, African Mining Week – the continent's premier mining event – will host the Europe-Africa Roundtable under the theme, European Partnerships in African Mining: A Mutually Beneficial Future. The roundtable will convene mining stakeholders, policymakers and investors from both continents to explore investment opportunities and foster cross-continental collaboration. As Africa seeks to mobilize new capital to drive industrial growth through mining, European-based companies are playing a pivotal role. British multinational Anglo American is advancing copper, nickel, coal and diamond projects in South Africa, Botswana, Zambia and Nigeria. Glencore, headquartered in Switzerland, maintains major coal, copper and cobalt operations in South Africa and Botswana, while the UK's Rio Tinto is engaged in a range of mineral ventures across the continent. Europe's junior and mid-tier mining firms are also gaining ground. Pensana is developing Angola's first rare earths mine at Longonjo, which is expected to meet 5% of global demand for magnet rare earths. Endeavour Mining is leading several gold expansion projects across the continent, including the Lafigué Gold Mine in Ivory Coast, Sabodala-Massawa in Senegal and Kalana in Mali. Beyond the private sector, the European Commission is also backing strategic infrastructure to unlock mineral corridors. Notably, it is co-financing the Lobito Corridor, which links the DRC, Zambia and Angola to global markets. Through frameworks such as the Global Gateway Africa-Europe Investment Package, the Africa-EU Partnership on Sustainable Raw Materials, and Strategic Partnerships on Critical Raw Materials, Europe is delivering financial backing and technical know-how to Africa's mining sector. These efforts aim to secure reliable, responsible and diversified mineral supply chains while fostering sustainable development and value addition on the African continent. Within this context, AMW 2025 offers a vital platform to sustain this momentum, deepen cooperation and forge new partnerships that advance mining-led growth. From major investments by European mining giants to infrastructure financing through the Lobito Corridor, Africa is attracting unprecedented levels of capital and collaboration. The Europe-Africa Roundtable will spotlight opportunities across critical minerals, gold, copper and rare earths, while promoting sustainable practices and mutually beneficial engagement. Distributed by APO Group on behalf of Energy Capital&Power. About African Mining Week: African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@
Daily News Egypt
29-04-2025
- Business
- Daily News Egypt
Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks
Egyptian President Abdel Fattah Al-Sisi met Angolan President João Lourenço in Cairo on Tuesday for talks focused on strengthening bilateral relations and addressing key African security and development issues, the Egyptian presidency announced. President Lourenço, who is also the current chairperson of the African Union (AU), was received with an official ceremony at Ittihadia Palace at the start of his three-day official visit (April 28-30). Following a closed meeting, the leaders held expanded talks with their respective delegations, culminating in the signing of memorandums of understanding (MOUs) covering cooperation in communications and information technology, housing, and infrastructure. According to Egyptian Presidency Spokesperson Ambassador Mohamed El-Shennawy and a subsequent joint statement, discussions covered enhancing bilateral cooperation, particularly in economic, trade, and investment fields. The leaders agreed to intensify joint efforts to promote investment and trade, especially in sectors contributing to economic diversification in both nations. They agreed the next round of political consultations would be held in Luanda before the end of the year. In press conference remarks, President Al-Sisi highlighted the 'deep-rooted historical relations' between the nations, noting the upcoming 50th anniversary of diplomatic ties in November 2025. He described the talks as 'fruitful and constructive,' reflecting 'a congruence of visions, and a common political will towards elevating our bilateral relations to broader horizons.' Al-Sisi reiterated Egypt's readiness to provide support and capacity-building assistance to Angola in sectors including police, defence, health, media, tourism, agriculture, anti-corruption, renewable energy, and diplomacy. Cooperation opportunities within the strategic Lobito Corridor project were also discussed. The talks extensively covered regional and continental issues, particularly in light of President Lourenço's AU chairmanship. The presidents exchanged views on situations in the Horn of Africa, Sudan, counter-terrorism efforts, and the eastern Democratic Republic of Congo (DRC). Al-Sisi specifically expressed 'deep appreciation for the pivotal role played by President Lourenço in mediating the crisis in eastern Democratic Republic of Congo.' Both leaders reaffirmed their commitment to the DRC's unity and sovereignty and welcomed Togo's President Faure Gnassingbé as the new mediator in the peace process. Regarding Sudan, the joint statement expressed grave concern over the conflict and its humanitarian consequences, calling for an immediate ceasefire, the resumption of inclusive national dialogue, support for peaceful resolution initiatives (emphasising the AU's role), and rejecting any attempts to form a parallel government. Concerns were also voiced over recent developments in South Sudan, with calls for dialogue and continued implementation of the peace agreement. Support for Somalia's unity and stability was reaffirmed, alongside condemnation of rising terrorist activities there. The leaders discussed managing transboundary water resources according to international law, emphasising mutual benefit, the 'no harm' principle, and the need to refrain from unilateral actions that cause conflict between riparian states. The escalating humanitarian crisis in the Gaza Strip was also addressed, with both presidents reaffirming the need for a permanent ceasefire, unimpeded humanitarian aid access, and support for the Arab/Islamic recovery and reconstruction plan. President Lourenço commended Egypt's role in Gaza reconstruction efforts and mediation towards a two-state solution. Broader international issues included maintaining unified African positions, ensuring fair African representation in global institutions (particularly regarding UN Security Council reform), and accelerating AU institutional reform. They reaffirmed mutual support for candidacies in international forums, including Egypt's candidate Khaled El-Enany for UNESCO Director-General, and agreed on continued consultations. Egypt expressed support for Angola hosting the 7th AU-EU Summit, while Angola supported Egypt hosting the AU Mid-Year Coordination Summit and Executive Council meetings in July 2026. The leaders concluded by reaffirming their commitment to multilateralism and the urgent need to reform international institutions, including the UN and its Security Council, for greater inclusivity.
Zawya
29-04-2025
- Business
- Zawya
African Mining Week: Role of infrastructure to unlock mining potential
As Africa expands its regional corridors with major rail and port projects, African Mining Week 2025 in Cape Town from Wednesday, 1 October 2025 to Friday, 3 October 2025 will showcase the critical role of infrastructure in unlocking mining potential and driving industry investment. Africa and its global partners are accelerating investments in regional corridors, prioritising port, road and rail infrastructure to enhance mining operations. As logistics infrastructure takes centre stage, the upcoming African Mining Week (AMW) will spotlight key projects and regional corridor developments, offering prime investment opportunities for global logistics and mining stakeholders. Trans-Guinean Railway: advancing iron ore exports: In February 2025, the Winning Consortium Simandou awarded a $248m contract to US engineering firm Wabtec for locomotives supporting the Trans-Guinean Railway project. This railway will transport minerals from Guinea's Simandou Iron Ore Project – the world's second-largest untapped iron ore deposit. The project is expected to facilitate the extraction of 1.8 billion tons of iron ore, significantly boosting Guinea's export revenue. Lobito corridor: Strengthening cross-border trade: Angola is set to begin construction of a 260km section of the Benguela Railway in 2025 as part of the Lobito Corridor initiative. In September 2024, the International Finance Corporation signed concession agreements with Zambia and Angola to finance, construct, own and operate an 800km railway section of the corridor, linking the two nations. Once completed, the $10bn Lobito Corridor will streamline mineral exports from Zambia, the Democratic Republic of the Congo and Angola to international markets. Abidjan-Lagos Corridor: Boosting West African connectivity: The $15.6bn Lagos-Abidjan Highway, slated for construction in 2026, will connect Nigeria, Benin, Togo, Ghana and the Ivory Coast, facilitating regional trade and mining exports. Funded by the African Development Bank (AfDB), the European Union and the ECOWAS Commission, the 1,028km project is expected to generate 70,000 jobs and enhance economic integration. AfDB President Akinwumi Adesina emphasised its significance: "It's only through regional corridors that we can move goods and services easily across the continent, lower transport costs, promote integration and achieve impactful economic development." Tazara Railway: Expanding access to East African markets: In September 2024, Tanzania, Zambia and China signed an agreement to modernise and expand the Tanzania-Zambia Railway (Tazara). The upgrade will optimise the transport of minerals such as copper from Zambia, as well as uranium and rare earths from Tanzania, improving access to international markets via the Port of Dar es Salaam. With Zambia targeting an annual copper production of 3 million tons by 2031, the revitalised railway will strengthen export capabilities and attract global buyers to the Zambian Copperbelt region. AMW brings together African mining projects and international investors under one roof, facilitating strategic partnerships that optimise mineral logistics and drive industry growth. As infrastructure investments accelerate across regional corridors, the event provides a vital platform to explore emerging opportunities in rail, port and road development. With major projects reshaping Africa's mining supply chains, AMW offers key insights into the future of mineral transportation and trade. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Yahoo
29-04-2025
- Business
- Yahoo
DOGE targets US foreign aid agency created under first Trump administration
DOGE has descended on the U.S. International Development Finance Corporation, one of the last remaining foreign aid agencies that hasn't yet been obliterated by the Trump administration. A team of DOGE personnel, led by Nate Cavanaugh, went to DFC headquarters in Washington on Monday to begin assessing the agency's effectiveness and alignment with the president's agenda, according to two people familiar with the situation. Both were granted anonymity to speak openly. The DFC was created with bipartisan congressional support during the first Trump administration to provide private sector funding for development projects in lower- and middle-income countries — offering an alternative to China's Belt and Road infrastructure initiative. Its initial head was Adam Boehler, a close associate of Trump's son-in-law Jared Kushner. Until now, it has been one of the few aid agencies to avoid deep cuts as part of the Trump administration's aggressive campaign to shrink the size of the government. Proponents of the agency say its mandate to link private investment with government loans is crucial to U.S. efforts to compete with China. But other aid and foreign policy agencies have already been axed by the Trump administration despite stiff opposition from some lawmakers and development experts. The administration has dismantled the U.S. Agency for International Development, folding its remnants into the State Department, and moved to shutter smaller institutions including the U.S. Institute for Peace and the Wilson Center, both congressionally funded think tanks. Cavanaugh last month was named acting president of USIP, according to court filings released shortly after nearly all of the institution's 300 staff members were fired. Other DOGE members involved in conversations with DFC and a slew of other small and medium-sized independent agencies include Jonathan Mendelson, Ethan Shaotran and Marshall Wood, according to one of the officials with direct knowledge of the meetings. "Last week, DFC welcomed staff from the Department of Government Efficiency to DFC headquarters," a DFC official said in a written response to a request for comment. 'Our team is committed to addressing their requests and highlighting the efficiency and effectiveness of DFC's operations. We will also demonstrate how DFC is actively implementing the administration's executive orders and priorities, as we work to mobilize private capital and deliver returns to American taxpayers.' The DFC has played a key role in securing hundreds of millions of dollars of loan assistance for a U.S.-led effort to create a trans-Africa railway system that would bring critical mineral resources from central Africa to Atlantic ports. That project, known as the Lobito Corridor, is viewed as a poster child of how the United States can compete with Beijing's Belt and Road projects. DFC pairs government funding with private investors to help bankroll infrastructure and development projects in West Africa, India and South America. Some administration insiders believe the DFC could fare better than other U.S. agencies that Trump abruptly dismantled — including USAID and USIP — because it aligns with the Republican party's agenda of countering China abroad with private sector investments. A 2024 report from the Government Accountability Office determined that between 2013 and 2021, China bankrolled $679 billion in projects on critical infrastructure including transportation and energy around the world, compared to just $76 billion by the United States. A version of this story previously appeared in POLITICO's West Wing Playbook.
Politico
29-04-2025
- Business
- Politico
DOGE targets US foreign aid agency created under first Trump administration
DOGE has descended on the U.S. International Development Finance Corporation, one of the last remaining foreign aid agencies that hasn't yet been obliterated by the Trump administration. A team of DOGE personnel, led by Nate Cavanaugh, went to DFC headquarters in Washington on Monday to begin assessing the agency's effectiveness and alignment with the president's agenda, according to two people familiar with the situation. Both were granted anonymity to speak openly. The DFC was created with bipartisan congressional support during the first Trump administration to provide private sector funding for development projects in lower- and middle-income countries — offering an alternative to China's Belt and Road infrastructure initiative. Its initial head was Adam Boehler, a close associate of Trump's son-in-law Jared Kushner. Until now, it has been one of the few aid agencies to avoid deep cuts as part of the Trump administration's aggressive campaign to shrink the size of the government. Proponents of the agency say its mandate to link private investment with government loans is crucial to U.S. efforts to compete with China. But other aid and foreign policy agencies have already been axed by the Trump administration despite stiff opposition from some lawmakers and development experts. The administration has dismantled the U.S. Agency for International Development, folding its remnants into the State Department, and moved to shutter smaller institutions including the U.S. Institute for Peace and the Wilson Center, both congressionally funded think tanks. Cavanaugh last month was named acting president of USIP, according to court filings released shortly after nearly all of the institution's 300 staff members were fired. Other DOGE members involved in conversations with DFC and a slew of other small and medium-sized independent agencies include Jonathan Mendelson, Ethan Shaotran and Marshall Wood, according to one of the officials with direct knowledge of the meetings. 'Last week, DFC welcomed staff from the Department of Government Efficiency to DFC headquarters,' a DFC official said in a written response to a request for comment. 'Our team is committed to addressing their requests and highlighting the efficiency and effectiveness of DFC's operations. We will also demonstrate how DFC is actively implementing the administration's executive orders and priorities, as we work to mobilize private capital and deliver returns to American taxpayers.' The DFC has played a key role in securing hundreds of millions of dollars of loan assistance for a U.S.-led effort to create a trans-Africa railway system that would bring critical mineral resources from central Africa to Atlantic ports. That project, known as the Lobito Corridor, is viewed as a poster child of how the United States can compete with Beijing's Belt and Road projects. DFC pairs government funding with private investors to help bankroll infrastructure and development projects in West Africa, India and South America. Some administration insiders believe the DFC could fare better than other U.S. agencies that Trump abruptly dismantled — including USAID and USIP — because it aligns with the Republican party's agenda of countering China abroad with private sector investments. A 2024 report from the Government Accountability Office determined that between 2013 and 2021, China bankrolled $679 billion in projects on critical infrastructure including transportation and energy around the world, compared to just $76 billion by the United States. A version of this story previously appeared in POLITICO's West Wing Playbook .
