Driven by the energy shift and a drive for industrialization, the global need for rare earth elements is skyrocketing. Demand is projected to rise fourfold by 2030, and African countries rich in these vital minerals are hurrying to assert their place in the worldwide supply chain. Africa might soon provide 10% of the world’s supply—solidifying its position in a fast changing market with up to eight major rare earth projects scheduled to start by 2029.
Key figures from regulators and investors to mining firms and technology providers will gather at the African Mining Week 2025 to talk about the future of Africa’s rare earth sector. Taking place in Cape Town from October 1-3, the event will be an opportunity to explore partnerships, secure investments, and drive industry growth.
The continent is already seeing a lot of investment. Asset management company Novare in South Africa has partnered with U.S.-based ReElement Technologies in an R1.8 billion agreement to build a battery manufacturing and rare earth refining plant. Rather than exporting raw minerals, the project scheduled to start in the second half of 2025 will enhance Africa’s mineral wealth.
Namibia is also joining the fray, with Namibia Critical Metals and the Japan Organization for Metals and Energy Security having finished a production trial for the Lofdal Project—one of only two xenotime-type heavy rare earth deposits now under development globally. Meanwhile, in Angola, Pensana secured an $80 million loan from Absa Bank Limited to accelerate the Longonjo Project, which could supply 5% of the world’s demand for magnet metal rare earths—essential for wind turbines and electric vehicles.
Notable are many of the most powerful investors in the world. Through mining company KoBold Metals, billionaires Jeff Bezos and Bill Gates have pledged $537 million to investigate and grow Africa’s rare earth resources. Their investment highlights the continent’s increasing relevance in the worldwide minerals competition.
On a broader scale, the African Development Bank is proposing a bold initiative: the creation of the African Units of Account (AUA), a new currency backed by the continent’s critical mineral reserves. This move could help stabilize regional economies and attract even more international investment into Africa’s mining and green energy sectors.
Projects in South Africa (Phalaborwa and Steenkampskraal), Angola (Makuutu), Tanzania (Ngualla), and Malawi (Songwe) are all making significant progress, positioning Africa as a key player in the global rare earth market. As the industry continues to evolve, African Mining Week 2025 will be a critical moment for stakeholders to engage, sign deals, and forge partnerships that will shape the continent’s mining future.
To learn more about the event, sponsorship possibilities, and participation details, write to sales@energycapital-power.com.
