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Is Africa becoming the new battleground for China and Asia’s minerals race?

A flag of China. Photo by Bo Peng @ Unsplash
A flag of China. Photo by Bo Peng @ Unsplash

Africa-China trade is booming again, but India, the Gulf and Europe are muscling in on critical minerals — rewriting risk, returns and leverage for investors.

Africa’s trade with Asia is surging again – but this time, China is not the only game in town.

Across the continent, a quiet reset is under way. Trade between China and Africa hit about $295bn in 2024, up just over 6 percent on the previous year, according to Chinese customs data.

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