Ivanhoe Signs Up to Be US-Backed African Rail Line’s First User
- Angola’s Lobito railway to be key Congo copper export route
- The US is backing a project to build new Zambia rail link
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Ivanhoe Mines Ltd., chaired by billionaire Robert Friedland, and commodities trader Trafigura Group signed deals to transport copper by rail from the Democratic Republic of Congo to neighboring Angola’s port of Lobito, marking the first long-term deal for the railway project that the US government is backing.
Trafigura is part of the consortium that won a 30-year concession to operate the Lobito railroad that could become a key export route for DRC’s fast-growing production of copper and cobalt — both crucial metals for the energy transition. Ivanhoe says the route could drastically cut transport times and lower emissions.