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1) The Biden administration is aggressively pursuing competition with China in Africa's vital "Copperbelt," rich in minerals crucial for renewable energy components. Zambia and the Democratic Republic of Congo have become focal points int hsi strategic rivalry. To challenge China's dominance, the US is investing extensively in revitalizing the Lobito corridor, a historic rail line connecting African mines to an Atlantic Ocean port. This initiative aims to provide a swift route for essential minerals to reach the US and the European Union. Despite these efforts, the US is considered late to the games, as China established a rail line in the 1970s and invested nearly $1 trillion through President Xo Jinping's Belt and Road initiative over the past decade. The Lobito corridor is now a flagship project under President Biden and the Group of Seven's plan to invest $600 billion in similar endeavors over five years. China's dominance extends beyond infrastructure, with control over much of Congo's copper production and limited US investment in Zambian mining. KoBold Metals, a Silicon Valley startup supported by Bill Gates and OpenAI's Sam Altman, is striving to change this narrative. The company is racing to transform a significant copper deposit in northern Zambia into a mine that stands to benefit from the Lobito corridor project, signaling a shift in US strategy to secure a foothold in the critical minerals supply chain in Africa.
2) Indonesia has unveiled its plan to reduce on-grid power sector carbon emissions to 250 million metric tons by 2030, with a target of 44% renewable energy generation, through the Just Energy Transition Partnership (JETP). The JETP involves a $20 billion funding scheme from G7 members, multilateral banks and private lenders. The comprehensive investment and policy plan (CIPP) outlines the roadmap to secure this funding, focusing on equity investments, grants and concessionary loans. Initially, Indonesia and investors primarily from the US and Japan, agreed to peak emissions at 290 million tons by 2030, with a renewable power generation share of 34%. However, the off-grid power system's scope was not fully defined. The released CIPP excludes captive power plants, off-grid systems managed by industries, particularly coal power stations, citing the need for additional time to address concerns in the nickel smelting sector. The plan also includes measures for early retirement of coal power, targeting 1.7GW of capacity by 2040. Indonesia's JETP initiative is significant, not only due to its scale but also as a test of G7 commitment to collaborating with developing nations on clean energy transitions.