President William Ruto has revealed that Kenya is close to finalizing a major critical minerals agreement with the United States, a move that could unlock investments estimated at up to KSh9.7 trillion and strengthen the country's position in the global minerals market.
Speaking on the sidelines of the G7 Summit in France, Ruto said discussions with U.S. President Donald Trump had yielded progress toward a deal that will ensure Kenya's strategic minerals are processed locally rather than exported in raw form. The agreement is expected to cover rare earth minerals and other critical resources essential for modern technologies, renewable energy, and electric vehicle manufacturing.
According to the President, the partnership seeks to create jobs, boost industrialization, and increase the value Kenya derives from its natural resources. He emphasized that future agreements involving the country's mineral wealth must prioritize local processing and manufacturing.
The proposed deal comes amid growing competition between the United States and China for access to critical minerals across Africa. Kenya hopes to leverage its deposits of rare earths, niobium, lithium, graphite, copper, and nickel to become a regional processing hub and attract long-term investment.
If concluded, the agreement could mark a significant shift in Kenya's resource management strategy and economic development agenda.
Speaking on the sidelines of the G7 Summit in France, Ruto said discussions with U.S. President Donald Trump had yielded progress toward a deal that will ensure Kenya's strategic minerals are processed locally rather than exported in raw form. The agreement is expected to cover rare earth minerals and other critical resources essential for modern technologies, renewable energy, and electric vehicle manufacturing.
According to the President, the partnership seeks to create jobs, boost industrialization, and increase the value Kenya derives from its natural resources. He emphasized that future agreements involving the country's mineral wealth must prioritize local processing and manufacturing.
The proposed deal comes amid growing competition between the United States and China for access to critical minerals across Africa. Kenya hopes to leverage its deposits of rare earths, niobium, lithium, graphite, copper, and nickel to become a regional processing hub and attract long-term investment.
If concluded, the agreement could mark a significant shift in Kenya's resource management strategy and economic development agenda.
