The US State Department has announced a public-private partnership to help US mining companies in Africa to compete with China, according to Jeune Afrique magazine, citing sources in the US government, Report informs.
According to the publication, the US foreign policy department, together with the non-profit organization SAFE, created the public-private partnership Minerals Investment Network for Vital Energy Security and Transition (MINVEST), the purpose of which will be to attract investment from the US mining companies in the corresponding industry in Africa.
In 2021, the Center for Strategic Research in the Field of Critical Minerals was created on the basis of NGOs, which performed an information function. According to the founder of the NGO, Robbie Diamond, American companies need the support of the US government to work in such “challenging” regions as Africa.
The publication notes that the US will have to face competition from Chinese mining companies in Africa, where most rare earth metals are concentrated. According to the Chinese Ministry of Commerce, China has been Africa's largest trading partner for 14 years. Last year, bilateral trade increased by about 11% to $282 billion.