Kenya is close to signing a critical minerals agreement with the United States that would allow rare earths and other strategic minerals to be processed domestically, marking a significant step in the country’s efforts to capture more value from its natural resources.
President William Ruto disclosed the development during the G7 summit on the shores of Lake Geneva, saying discussions with U.S. officials were progressing and that an agreement could be concluded soon.
“We have agreed that the minerals will be processed in Kenya,” Ruto told Reuters, underscoring Nairobi’s push to move beyond the export of raw materials and build local industries around mineral processing.
The proposed deal comes as countries across Africa seek to retain a larger share of the economic benefits from their natural resources through domestic processing, manufacturing and value addition.
Kenya has identified deposits of several strategic minerals, including rare earths, niobium, lithium, graphite, copper and nickel.
