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Originally published by The Standard BusinessJune 19, 2026
4h ago
Why US has beaten China to clinch Kenya's 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, valued at approximately $62.4 billion (Sh9.7 trillion), outmaneuvering China in the race for critical resources.
- Deal secures rights to one of the world's largest untapped rare earth deposits.
- The agreement was announced by President William Ruto on the sidelines of the G7 summit in France.
- A key aspect of the deal requires minerals, including niobium and rare earths, to be processed domestically within Kenya.
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