EIB Global backs sustainable critical raw material projects in Africa

• EIB Global has signed co-operation agreements with EcoGraf and Andrada Mining to support early-stage graphite and lithium projects in Tanzania and Namibia.
• In line with the Global Gateway strategy, the EU-funded technical assistance will help advance these projects towards investment readiness and strengthen sustainable supply chains for Europe’s clean‑energy transition.

EIB Global, the European Investment Bank’s arm for international partnerships and development finance, has signed cooperation agreements with two companies in Africa’s critical raw materials (CRM) sector: Andrada Mining and EcoGraf. The agreements provide for up to €2 million in technical assistance to each company to help them move key projects from feasibility-stage towards investment readiness. This operation is in line with the EU Global Gateway strategy of investments in critical infrastructures and value chains.

Andrada Mining Limited operates a critical metals project in Namibia. Building on the company’s existing operation, the technical assistance will provide project development support for the expansion into lithium production and relates to key items, including engineering and mineral testing, while also assessing infrastructure needs and environmental and social risks.

The second company, EcoGraf Limited, is developing a natural graphite project in Tanzania that is embedded across the CRM value chain, targeting lithium-ion battery and advanced manufacturing markets. The technical assistance will support preparatory work for processing facilities and sustainable waste and water management, with the aim of integrating the project into the EU battery value chain.

The technical assistance is funded by the European Union under a dedicated facility for critical raw material projects and aims to support the enabling, preparation and potential implementation of CRM-related investment projects for countries in the Organisation of African, Caribbean and Pacific States (OACPS). Implemented by EIB Advisory, the support focuses on sustainability, technical viability and closer partnerships with European value chains.

“At the EIB Group, we work with partners across Africa to help turn promising projects into bankable investments,” said EIB Vice-President Karl Nehammer. “By supporting early‑stage technical work, we help build reliable and sustainable critical raw material value chains that benefit both Africa and Europe."

“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,” Andrada Mining Chief Executive Officer, Anthony Viljoen, said. “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. We believe this work will be transformational in progressing the Project toward bankability and unlocking long-term shareholder value.”

EcoGraf Managing Director, Andrew Spinks, commented: “We are excited to partner with the EIB and proud to work together in various strategic initiatives to develop reliable and sustainable supply chains for critical raw materials.”

European Commissioner for International Partnerships, Jozef Síkela, added, “Europe’s demand for critical raw materials is rising fast, driven by the clean energy and industrial transition. Through Global Gateway, we are building secure and sustainable supply chains by investing early in projects that create value locally, meet high environmental standards, and deliver reliable access for European industry. These partnerships show how cooperation with Africa can strengthen both local development and Europe’s economic security.”

 

Background Information:

EIB Group

The European Investment Bank (ElB) Group is the long-term financing institution of the European Union, owned by its Member States. In 2025, the EIB Group signed €100 billion of new financing for over 870 high-impact projects in eight core priorities that support EU policy objectives.

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international win-win partnerships and development finance, and a key partner of Team Europe and the Global Gateway strategy. EIB Global brings the EIB Group closer to people, companies and institutions through its offices across the world.  

Under its CRM strategic initiative, the Bank focuses on everything from mining and processing, to recycling and developing substitutes, in line with EU priorities under the Critical Raw Materials Act.

Photos of the EIB Group's spokespeople and headquarters, logo files and video B-roll for media use are available here.