Trump gets major win against China in African rare earth minerals race

Key Points:

• The U.S. government, under the Trump administration, is backing American company Virtus Minerals in developing two major cobalt and copper mines in the Democratic Republic of the Congo (DRC), marking the first U.S. rare earth minerals acquisition in the country since the Washington Accord was signed in December.
• China currently controls about 80% of the cobalt produced in the DRC, a critical mineral for industries such as electric vehicles, electronics, and defense, prompting the U.S. to seek to reduce Chinese dominance by supporting American mining operations.
• Virtus Minerals plans to produce 75,000 tonnes of copper and 20,000 tonnes of cobalt annually from its Étoile and Mutoshi mines, with minerals exported via the Lobito Corridor to Angola, supported by a $5 billion U.S. investment to secure supply chains.
• Experts view the Virtus project as a strategic move by the U.S. to assert influence in Africa's mineral sector, challenging China's long-standing dominance and aiming to strengthen geopolitical and economic ties with the DRC.
• The U.S. State Department emphasizes that this initiative will create jobs, foster skills development, and support local communities, while signaling increased American private sector interest and investment in the DRC's critical minerals industry.