Chinese Mining Industry Development in Africa
China is now the prime driver of world mineral prices and a number of Africa countrieshave become key beneficiaries of this process. The country is unable to meet its annualdemand for copper, zinc, nickel and a range of other raw materials. Consequently, Chinanow imports US$100 billion worth of base metals every year, consuming more than25percent of the world’s supplies. This includes 30 percent of global zinc output, 25percent of global lead output and 22 percent of refined copper production. Furthermore,the Chinese economy absorbs 27 percent of the globe’s iron and steel and 25 percent ofits aluminum output.
In 2003, China passed the United States to become the world’s largest copper consumerand by the following year consumed 46 percent more than the United States. In 2006,China announced plans to set up Strategic Mineral Reserve to stockpile uranium, copper,aluminum, iron ore and other minerals. The reserves are critical for providing China with abuffer to adjust to market fluctuations, manage emergencies and guarantee the security ofresource supplies.
Africa plays a critical role in the provision of key minerals for the Chinese economy. In thecase of minerals, China is almost exclusively reliant on Sub-Saharan Africa for its cobaltimports, and significantly reliant for manganese (the latter primarily from Gabon, SouthAfrica and Ghana). Sub-Saharan Africa is also an important supplier of timber (mainly fromGabon, Republic of Congo, and Cameroon) and chromium (mainly from South Africa,Madagascar, and Sudan), accounting for around one-seventh of China’s global importseach. However, with respect to China’s imports of iron ore and copper, Sub-SaharanAfrica is still a relatively small (but growing) contributor.
China has shown a growing interest in the mining belt of central southern Africa,comprising Zambia, Tanzania, and Mozambique. This area is well endowed with copper,iron, gold, manganese, and other base metals.
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