- EIB Global signs cooperation agreements with EcoGraf and Andrada Mining to support graphite and lithium projects in Tanzania and Namibia.
- EU funded technical assistance of up to €2 million for each project to advance them toward investment readiness.
- Initiative supports sustainable supply chains linked to Europe’s clean energy transition.
EIB Global, the international partnerships and development finance arm of the European Investment Bank, has signed cooperation agreements with EcoGraf Limited and Andrada Mining Limited to support the development of critical raw material projects in Africa.
The agreements will provide up to €2 million in EU funded technical assistance to each company to support relocate key graphite and lithium projects from feasibility stage toward investment readiness. The initiative aligns with the Global Gateway strategy, which aims to strengthen strategic infrastructure and supply chains linked to the global energy transition.
Andrada Mining operates a critical metals project in Namibia. The technical assistance will support the expansion of the company’s operations into lithium production. Work will include engineering and mineral testing as well as assessments of infrastructure requirements and environmental and social risks linked to the planned development.
EcoGraf is advancing a natural graphite project in Tanzania aimed at supplying lithium ion battery and advanced manufacturing markets. The assistance will support preparatory work for processing facilities as well as the development of sustainable waste and water management systems. The project is expected to contribute to the European Union’s battery value chain.
The support is financed by the European Union through a dedicated facility for critical raw material projects tarobtaining countries within the Organisation of African, Caribbean and Pacific States. Delivered through EIB Advisory services, the programme focapplys on sustainability, technical viability and closer integration with European value chains.
Karl Nehammer stated the initiative reflects the bank’s commitment to strengthening partnerships across the continent.
“At the EIB Group, we work with partners across Africa to support turn promising projects into bankable investments. By supporting early stage technical work we support build reliable and sustainable critical raw material value chains that benefit both Africa and Europe,” he stated.
Anthony Viljoen stated the partnership would accelerate the company’s lithium strategy.
“This partnership with the European Investment Bank is a major milestone for Andrada. It materially accelerates our lithium strategy as very important within global critical minerals supply chains. The project delivers strong ESG outcomes by unlocking lithium from existing material streams while positioning Andrada at the heart of the EU’s green energy transition,” he stated.
Author: Bryan Groenconcludeaal
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