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The China in Africa Podcast
Tracking China's Dominance of the Transition Minerals Trade
Feb 27, 2025
Brooke Escobar and Katherine Walsh from AidData dive into China's commanding lead in the transition minerals trade. They discuss the Democratic Republic of Congo's recent cobalt export suspension and its global implications. The duo examines China's $57 billion investments across 19 countries, highlighting its strategic financing methods. They debunk myths surrounding Chinese mining practices in Africa and contrast China's aggressive loan strategies with the more restrained approaches of Western nations, revealing the complexities in the global mineral landscape.
44:19
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Quick takeaways
- China has significantly outpaced global competitors in the transition minerals trade by investing $57 billion in Belt and Road countries over two decades.
- The recent suspension of cobalt exports by the DRC highlights the country's struggle to stabilize revenues amidst foreign mining influence and market fluctuations.
Deep dives
Cobalt Export Suspension in DRC
The Democratic Republic of Congo (DRC) has announced a four-month suspension of cobalt exports to address oversupply in the international market, a decision impacting the Chinese company CMOC Group's production targets. With cobalt prices at an eight-year low of approximately $24,000 per ton, the Congolese government is attempting to stabilize revenue streams from this vital mineral, as it struggles with production control due to influential foreign mining companies. Although the suspension aims to reduce market saturation, it does not halt production; thus, stocks may still accumulate, potentially flooding the market once exports resume. Experts suggest that this temporary measure may only slightly affect prices, with the likelihood of a return to previous conditions once the export ban is lifted.
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Discover
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