While the US frets about Chinese investment in Africa, it underinvests.Meanwhile South-South investments in the continent continue to rise, one of the most recent being ArcelorMittal's steel industry plans for Mozambique.The FT reports:
As part of the project to build a plant capable of making 400,000 tonnes of steel a year, the Luxembourg-based company has also signed an agreement with the government of Mozambique under which it will look at the possibilities of operating new ventures in the country in mining iron ore and coal - important raw materials for steelmaking.
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