South Korea secures stable mineral supply from Africa: summary

What we know

• Africa has pledged to ensure a steady mineral supply to South Korea to facilitate the nation's access to essential resources for its energy transition.
• The commitment was formalised in a joint declaration between South Korean President Yoon Suk Yeol and Mauritanian President Mohamed Ould Ghazouani during the Korea-Africa Summit in Seoul.
• Both sides agreed to establish a high-level dialogue to discuss mineral supply from Africa and explore investment opportunities for Korean firms in the mineral extraction sectors.
• The dialogue aims to enhance cooperation between South Korea and Africa and promote technology collaboration in mineral-related industries.
• The leaders also emphasised the importance of the Korea-Africa Critical Minerals Dialogue as the foundation for cooperation.

What they said

Kenya’s President William Ruto who spoke during the event commended South Korea’s decision to invest in Africa. “Africa’s rich natural resources and growing and increasingly youthful, skilled population present a significant opportunity for growth in agriculture, industry and trade,” Ruto was quoted by The Citizen