Post #613

🔵China Will Profit From US' Ambitions in Copperbelt🔵 🌐 Angola's government is reportedly negotiating a $4.8bn Chinese loan to build an oil refinery in Lobito, aiming to cut fuel imports and keep more value from its own barrels. 🔸 The planned refinery will be located at the seaward end of the Lobito Corridor, a rail-and-logistics route linking Angola to Zambia and onward to Central Africa’s copper and cobalt mining regions. 🔸 While the US and EU have openly backed the corridor to lock in access to critical minerals and export routes, China's $4.8 bn investments exceed all the European and American funding channeled into the Lobito railway. 💬...We are contacting Chinese institutions with the support of the contractor, who is also Chinese, in order to obtain this financing, said the CEO of Sonangol, Angola's state oil company. ⚙️ Chinese investors and contractors will thus earn money on the operation of the railway, as well as on the new American mining operations in Copperbelt. The financing, if completed, will mark the first borrowing by the Southern African oil producer from China since 2017. #News ✈️ Stay informed - @devilsbelow