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Originally published by The Standard Business
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June 18, 2026
4h ago

US beats China to clinch Sh9.7tr minerals deal

US beats China to clinch Sh9.7tr minerals deal

America has struck a preliminary minerals deal with Kenya, securing a foothold in one of the world’s largest untapped rare earth deposits worth about Sh9.7 trillion. The deal edges out China...

✨ Key Highlights

The United States has secured a preliminary minerals deal with Kenya, potentially worth $62.4 billion (Sh9.7 trillion), outmaneuvering China in the race for crucial resources.

  • The deal involves strategic minerals, including niobium and rare earths, found in one of the world's largest untapped deposits.
  • President William Ruto announced the agreement on the sidelines of the G7 summit in France.
  • A key aspect of the deal is the requirement for domestic processing of these minerals, a significant shift from Africa's traditional role as a raw material exporter.

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