2 August 2025
Last update on Saturday, August 2, 2025 At 7:25 AM
From Tanzania to the DRC, the United States is gradually structuring its offensive on critical African metals. Beyond the race between powers for access to cobalt, nickel, copper, and lithium, Washington is also locked in a long-distance duel with China, the dominant player on the continent.
The U.S. export credit agency EXIM Bank has issued a non-binding letter of intent to provide $150 million in financing to NexMetals Mining. The announcement made on July 17 by the owner of two nickel mines in Botswana confirms the United States’ interest in African nickel, following a similar proposal for a Tanzanian nickel-copper-cobalt project last year.
From Kabanga to Selebi
In December 2024, the U.S. Development Finance Corporation (DFC) signed a document with Kabanga Nickel (a subsidiary of Lifezone Metals) for due diligence on political risk insurance covering the Kabanga nickel mine and associated refinery. A non-binding letter of intent also provides for consideration of a potential DFC loan for the project.
A preliminary study published in June 2025, based on indicated and inferred mineral resources, reveals that the mine could be exploited for 22 years. The resulting concentrate is expected to be processed in the refinery, which is expected to deliver 50,000 tons of battery-grade nickel sulfates annually. Annual production of 7,000 tons of copper cathodes and 4,000 tons of cobalt sulfates is also expected.
During a visit to Tanzania in 2023, then-US Vice President Kamala Harris indicated that Kabanga’s nickel was destined for the US market.
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