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29/02/2024
Mining News

Namibia on China’s major growth engagement list

A study conducted by the Fudan University in Shanghai says Namibia is one of the countries targeted by China for major growth engagement.

Christoph Nedopil Wang compiled the Fudan University study titled China Belt and Road Initiative (BRI) Investment Report 2023, published by Green Finance & Development Centre on 1 August.

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The study examines China’s Belt and Road Initiative (BRI) investment, which values mineral resources relevant to the energy transition.

China announced the start of the BRI in 2013 to connect China with Europe, Asia and the rest of the world.

According to the study, China signed metals and mining sector contracts worth more than US$10 billion during the first half of 2023.

“A growth area of strategic importance is metals and mining through Chinese investment for ownership. Engagement in the sector has grown by 131% compared to the first half of 2022.

“The minerals and metals are particularly relevant to the green transition (e.g., lithium) and batteries for electric vehicles.

“Major growth countries of Chinese engagement were Bolivia, Namibia, Eritrea, and Tanzania – making Sub-Saharan Africa the fastest growing area of BRI engagement,” the study says.

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