Africa will account for 9% of the global supply of rare earth elements by 2029, driven by an expanding portfolio of projects coming online, according to research firm Benchmark Intelligence.
Eight rare earth mines including in Tanzania, Angola, Malawi, South Africa and Uganda, are set to begin production in the next five years, boosting Africa’s contribution to the global market.
“China will not be the only beneficiary of Africa’s active, low-cost pipeline, which will also become strategically valuable for the EU and U.S,” Benchmark Intelligence notes.
While up to 37% of Africa’s future output has secured interest from Chinese firms, western companies, including Pensana, Rainbow Rare Earths and Mkango Resources, are developing projects and will own a share in Africa’s total production
