A new research paper prepared by the Abu Dhabi Interregional Center for Strategic Analysis stated that the UAE has signed numerous economic and investment agreements and partnerships, of which the mineral industry is an important aspect, in the context of the country’s projected importance of minerals. in providing its industrial needs from various sources, especially from Africa, in light of protectionist measures and global competition for strategic and critical minerals, indicating that the UAE is showing a deliberate approach to investing in mining in Africa.
According to the research, the investments in the mineral sector are part of the strategy of the “300 billion Project”, whose goal is to increase the industrial sector to the GDP of 300 billion dirhams by 2031, the industrial sector of the country has achieved a qualitative leap in its contribution to the country’s GDP, 197 billion AED by the end of 2023.
The research paper cited statistics from the Ministry of Industry and Advanced Technology, which showed the growth of the UAE’s industrial exports since the launch of the “300 million” project, to reach around 187 billion dirhams in 2023.
According to the “Share.Emirates” information platform, the mineral wealth of the Emirates is considered very important because many industries depend on it, as there are large reserves that form the basis for future investments and projects. the sector
The center said: “The mineral sector is creating huge job opportunities in the field of manufacturing, in the face of the spreading waves of protectionism, and many countries are focusing on modern industrial investments based on strategic minerals related to modern industries, such as semiconductors, electric cars, sustainable energy projects, electronics and stones”.
He noted that the acquisition of rare earth minerals has become one of the dimensions of the great competition between the major countries of the world, especially America and China.
In the context of investment in the minerals sector, International Resources Holding Company, the mining investment arm of International Holding Company (IHC), has submitted an offer to buy a 51% stake in the Konkola copper mines in Zambia, while acquiring a majority stake. Mopani, one of Zambia’s largest copper mines, a 51% stake in the $1.1 billion deal.
The research paper confirmed that the UAE is showing a deliberate approach to investing in mining in Africa, with the country signing a $1.9 billion deal with a government-owned mining company in the Democratic Republic of Congo to develop four mines for some critical minerals, and plans to set up a $1.4 billion lithium processing plant. in Abu Dhabi, the first in the region.
On the other hand, Emirates Global Aluminum Company is the largest producer of high-quality aluminum in the world, and the country is home to many large industrial entities in many metal industries, especially iron and glass, in addition to the country’s proven record. in the global and regional manufacturing sector, according to the largest global indicators.
The Ministry of Investment and Kenya’s Ministry of Finance and Planning also signed an investment memorandum that paves the way for investment cooperation in the mining and technology sectors, as Kenya’s mining sector has great potential for growth thanks to its strategic gold reserves. , copper, ilmenite and tantalum.
In the same context, the Fujairah Natural Resources Corporation published a mining investment guide in the Emirate of Fujairah to provide investors with a clear picture of the emirate’s rich mineral resources sector as the UAE’s first comprehensive guide to specialized mining.
“Critical Minerals”
“Critical minerals” are the group of mineral resources and rare earth elements that are essential elements in the manufacturing and production of advanced technology sectors such as renewable energy, advanced electronics and defense systems, and solar panels. , wind turbines, electric vehicle batteries and other clean technologies.
Lithium, nickel, cobalt, copper, graphite, manganese and rare earths are at the top of the list of “critical minerals” because of their increasing importance in the production of electric cars and batteries, and the interest of countries is focused on securing them. The supply of critical minerals and not relying on one country to supply those minerals, with the aim of avoiding potential disruptions in supply chains.
