US Backs African Rare Earths
The United States is funding African rare-earth projects after private investors shunned the sector due to high risks and Chinese market dominance. The DFC has committed over sixty million dollars to ventures in South Africa, Malawi, Angola, and Madagascar.
The United States committed $62.8M to rare-earth projects across Malawi, Angola, Madagascar, and South Africa. The funding aims to bypass private investor reluctance in the critical minerals sector. Western nations are seeking alternatives to China for EV and defense supply chains.
