(Ecofin Agency) - China's control of the rare earth market has raised concerns in the West, prompting a search for alternative suppliers. According to recent forecasts by Benchmark Mineral Intelligence, Africa could be this alternative in the coming years.

Currently a minor player in the rare earth market, Africa could provide 9% of the world’s supply by 2029. According to Benchmark Mineral Intelligence who made the forecast, eight new mines may be developed in Tanzania, Angola, Malawi, and South Africa.

In 2017, Burundi's Gakara mine, operated by Rainbow Rare Earths, became the first African rare earth project. However, operations have been suspended since 2021. Currently, the company is in talks with the government to restart the mine, while also developing a new project in South Africa. The latter project, Phalaborwa, is set to launch in 2026.

While Gakara is Africa’s only active rare earth mine, new projects are being developed across the continent. 

In Malawi, Australian firm Lindian aims to start production at Kangankunde in 2025. In Uganda, Ionic Rare Earths expects its Makuutu mine to begin production in 2026. Makuutu, according to the latest estimates, hosts 126,000 tons of neodymium and praseodymium. In Tanzania, Peak Rare Earths is progressing on its Ngualla project, expected to deliver 16,200 tons of concentrate annually over a 24-year lifespan.

In Angola, Pensana updated output forecasts for its Longonjo mine in October 2023. The firm believes the project could deliver 38,000 tons per year of mixed rare earth sulfate. Meanwhile, Ecofin Pro, our platform dedicated to professionals,  announces upcoming projects in Mozambique and Namibia (respectively the Monte Muambe and Lofdal projects).

Rare earths regroup 17 metals, some in high demand in industries like automotive, defense, wind energy, and electronics. China currently dominates the global market, supplying over 70% of the world's rare earths, a position that has raised concerns among Western nations.

Louis-Nino Kansoun