UAE’s F9 Capital is eyeing Africa’s critical minerals: Abu Dhabi-based investor F9 Capital Management and South Africa’s Q Global Commodities (QGC) are partnering to invest USD 1 bn in African mines producing minerals necessary for the energy transition, Bloomberg reported on Friday.

The details: The venture will see F9 and QGC develop mines in eastern and southern Africa for lithium, nickel, and cobalt, Bloomberg notes. An energy transition fund run by F9 would hold a 30% stake from the assets its investment fund would generate. QGC has stakes in metal deposits in South Africa, Botswana, Zambia, Tanzania, and Namibia.

What they said: “We wanted to make sure that our reserves and projects were exactly where they needed to be so we could get to the next stage,” QGS owner Quinton Van der Burgh told Bloomberg. “That pulling the trigger means investing in plants, infrastructure and developing our logistical arms.”

IPO plans in the making: The new joint venture is eyeing a listing on the UAE or Canada’s stock exchange, Van der Burgh said.