China invests $16.3B in Africa to build mineral processing factories
World
China is putting $16.3 billion into Africa, not just digging up minerals, but actually building factories to process them.
This move covers 19 projects across 15 countries, including places like Democratic Republic of Congo, Guinea, and Zimbabwe.
It's all about tightening control over resources like copper, cobalt, iron ore, and rare earths as competition with the US heats up.
US seeks mineral deals in Africa
The US is trying to keep up by securing its own mineral deals in Africa.
Both countries want these minerals for things like smartphones, electric cars, and renewable energy technology.
By investing in local processing, China is making sure it stays a major player in the global supply chain, right where all the action is happening.