US, Saudi Arabia in talks to secure metals in Africa – WSJ
Reuters | September 10, 2023 | 10:18 am Battery Metals Energy Intelligence Africa Asia USA Cobalt Copper Lithium
US President Joe Biden and Saudi Crown Prince Mohammed bin Salman bin Abdulaziz. (Image by the Saudi Press Agency, Wikimedia Commons.)
The United States and Saudi Arabia are in talks to secure metals in Africa needed to help them with their energy transitions, the Wall Street Journalreported on Sunday, citing people with knowledge of the talks.

A state-backed Saudi venture would buy stakes in mining assets worth $15 billion in African countries such as the Democratic Republic of Congo, Guinea and Namibia, which will permit US companies to have rights to buy some of the production, the report added.
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The US is in a race to catch up with China for supplies of cobalt, lithium and other metals that are used in electric car batteries, laptops and smartphones.
In a similar arrangement in July, Saudi Arabian Mining Co (Ma’aden) and the Saudi Public Investment Fund (PIF) acquired 10% of Brazilian Vale’s base metal unit, while US investment firm Engine No. 1 acquired 3%.
The newspaper said the PIF approached Congo in June about investing in cobalt, copper and tantalum in the country via its $3 billion joint venture with Ma’aden called Manara Minerals
Manara is also focusing on iron ore, nickel and lithium.
The White House is seeking the financial backing of other sovereign-wealth funds in the region, but talks with Saudi Arabia have progressed the farthest, the Journal added.
The Saudi government and The White House did not immediately respond to a request for comment.
(Reporting by Urvi Dugar in Bengaluru; Editing by Cynthia Osterman).