The United States is poised to become the second-largest shareholder in a major graphite mining project in Mozambique, following a strategic investment led by the U.S. International Development Finance Corporation aimed at securing critical mineral supply chains, according to Business Insider Africa.
The agency plans to convert an existing $31 million loan into equity and inject an additional $15 million, bringing total backing to roughly $46 million in the project operated by Syrah Resources, according to multiple reports. The move will give the U.S. a stake of about 20%, elevating it to one of the largest shareholders in the company.
The investment targets the Balama graphite mine, one of the largest known graphite deposits globally, and a key source of material used in electric vehicle batteries and energy storage systems.
Officials say the deal is part of a broader U.S. strategy to reduce reliance on China’s dominance in critical minerals, particularly graphite, where Beijing controls a significant share of global production and processing capacity.
Analysts note that the move reflects a growing trend of direct state-backed investment in strategic resources, as global powers compete to secure supply chains for clean energy technologies, with Africa increasingly at the center of this geopolitical and industrial shift.
