African Development Bank Supports Titanium Processing in South Africa
The African Development Bank Group has approved $75 million in financing for Nyanza Light Metals Pty Ltd to drive large-scale titanium processing in South Africa.
Titanium dioxide, a crucial pigment, is used in various industries, including paints, food processing, cosmetics, and medical applications. Despite high demand, manufacturers in South Africa rely heavily on imports.
- Nyanza's project aims to produce titanium dioxide locally, promoting import substitution and positioning Africa in the global titanium dioxide value chain.
The African Development Bank's financing package includes $25 million from the Africa Growing Together Fund (AGTF), a co-financing initiative with the People's Bank of China.
Autor's resume: African Development Bank invests in titanium processing.
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