Q Global Commodities (QGC), led by South African coal investor Quinton Van der Burgh, has partnered with Abu Dhabi’s F9 Capital Management to invest $1 billion in green metal mining ventures.
This initiative aims to tap into lithium, copper, and nickel deposits in southern and eastern Africa to meet the growing demand for renewable energy and electric vehicle batteries.
The energy transition fund managed by F9 will acquire a 30% stake in these mining assets. QGC, primarily a coal mining company in South Africa, holds interests in metal deposits located in South Africa, Botswana, Zambia, Tanzania, and Namibia.
The soaring demand for essential battery materials like lithium, nickel, and cobalt has been a longstanding concern for automakers seeking to expand their electric vehicle offerings.
Recent months have seen heightened urgency due to increased competition for supply agreements, volatile fluctuations in raw material prices, and efforts by the U.S. administration to reduce reliance on China for critical minerals.
Simon Fentham-Fletcher, the founder and chief investment officer of F9, confirmed that the $1 billion investment has been secured from institutional investors, although their identities remain undisclosed.
The ultimate goal is to commence mining operations and eventually list the company on a stock exchange in the United Arab Emirates or Canada, according to Quinton Van der Burgh.
