President Biden’s visit to Angola has reignited US-China economic rivalry in Africa, centered on the Lobito Corridor rail project spanning 4,000km across Angola, DRC, and Zambia.
While Biden pledged $500 million for the project, experts warn of potential empty promises in the new scramble for Africa’s minerals. The US aims to counter Chinese influence in Africa’s mineral-rich regions, where China currently receives 57% of raw mineral exports.
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Africa holds 40% of global transition minerals, with DRC alone hosting 70% of world’s cobalt supplies. However, the US Development Finance Corporation expresses doubts about the greenfield railway’s viability, noting construction costs would exceed rehabilitating
existing lines.
The project’s success may depend on
the incoming Trump administration’s Africa policy, as past US infrastructure promises, like the 2017 Nairobi-Mombasa Expressway, remain undelivered despite set timelines.