African Critical Minerals: Learning from China, Qatar Joins Gulf Countries in the Race for African Critical Minerals

Africa holds 30% of the world's critical mineral reserves and is a target for many countries, including the Gulf States. After Saudi Arabia and the UAE, Qatar has also entered the African mineral sector.

In August 2025, Sheikh Mansour bin Jabor bin Jasim Al Thani, the cousin of the Emir of Qatar, announced a $10 billion investment plan after visiting ten African countries. He signed agreements covering multiple strategic areas, including mining, through his Mansour Holding Fund. Although specific projects are yet to be determined, Doha clearly aims at Africa's mineral resources to achieve economic diversification and enhance its influence in the global competition for critical resources.

From Lusaka to Kinshasa, the investment amounts announced by Qatar are staggering: Zambia pledged $19 billion, Botswana $12 billion, Mozambique $20 billion, the Democratic Republic of the Congo (DRC) $21 billion, and Zimbabwe $19 billion. These large investments lack details on payment methods and schedules. The agreements cover agriculture, tourism, infrastructure, energy, and mining, highlighting Qatar's growing interest in Africa's subterranean resources, a focus confirmed this week.

On September 17, the Qatari sovereign wealth fund - Qatar Investment Authority (QIA) announced an investment of $500 million in Ivanhoe Mines, which operates the largest copper mine in the Democratic Republic of the Congo. In addition to the Kamoa-Kakula mine, this Vancouver-based company also controls the Kipushi zinc mine in the DRC and the Platreef platinum group metals project in South Africa. After the transaction, the QIA will hold about 4% equity in Ivanhoe and will jointly explore other investment opportunities with the company.

Qatar's interest extends beyond the DRC. Ivanhoe also owns copper mines in Angola and Zambia, which is the second-largest copper producer in Africa. Mohamed Saif Al-Suwaidi, CEO of the QIA, stated that their goal is to support the procurement and supply of essential minerals required for the global energy transition. Qatar aims to emulate its Gulf neighbors, the UAE and Saudi Arabia, to have around one-third of the world's resources in Africa and play a leading role in acquiring these resources.

Before Qatar entered the Congolese mining industry, Abu Dhabi's International Resources Holdings (IRH) signed an agreement in June 2025 to control the main tin mine in the DRC. A year earlier, IRH Group took a significant step into the African mining sector by acquiring over $1 billion in a 51% stake in the Mopani Copper Mines in Zambia.

Clear Abandonment of Hydrocarbons

The map of the countries visited by Sheikh Mansour partially overlaps with the map of Africa's resource-rich countries. In addition to copper, Zambia and the DRC also have abundant cobalt reserves. Botswana is the second-largest diamond producer in the world, and its copper industry has been booming in recent years. Mozambique is the largest graphite producer in Africa, while Zimbabwe leads the continent in lithium reserves. All these raw materials are crucial for producing batteries, electric vehicles, as well as solar and wind energy industries.

Qatar's interest in these minerals has been long-standing. In August 2024, the QIA invested $180 million in TechMet, a U.S.-backed company that indirectly controls tin, tungsten, and tantalum assets in Rwanda. These investments come at a time when Qatar is undergoing an economic transformation strategy. Qatar, which made its fortune through oil and gas exports, is now seeking to diversify its sources of income. Its 2024-2030 National Development Strategy sets a target of achieving an average annual growth rate of 4% in non-hydrocarbon sectors.

Keeping Promises

For a long time, Africa's mineral resources have attracted some participants whose goals have not always aligned with the host country's vision. However, in recent years, African governments have increasingly insisted on local mineral processing and components as conditions for new business ventures. Initiatives such as Zimbabwe's lithium refining projects, copper smelters in Zambia and the DRC, and requirements for local companies to participate in projects have become commonplace.

These are priorities that new investors, including Doha, cannot ignore, especially if they want to position themselves as alternatives to China - the dominant player in African and global critical mineral resources. Sheikh Mansour's investment commitments are presented as win-win partnerships. However, whether Qatar's campaign to counter China and other established powers in Africa will succeed depends on its ability to meet local demands for value addition.

Sources: ecofinagency

Original: www.toutiao.com/article/1843687879536074/

Statement: This article represents the views of the author.