America and Saudi Arabia in Talks to Acquire Minerals from Africa

The Wall Street Journal reported today, citing informed sources, that "the United States and Saudi Arabia are in talks to obtain minerals from Africa to assist them in the energy transition." The report added that a government-backed Saudi project will purchase stakes in mining assets valued at $15 billion in African countries such as the Democratic Republic of Congo, Guinea, and Namibia, allowing American companies to acquire rights to purchase some of the production. The newspaper noted that the Public Investment Fund reached out to Congo in June to invest in cobalt, copper, and tantalum in the country through a joint venture worth $3 billion with a mining company called Mineral Lighthouse Investment.