Multimedia content
- Images (1)
- High angle view machinery
- All (1)
Transforming Africa's Mineral Wealth: From Extraction to End Use
The Critical Minerals Africa summit will explore the latest processing and infrastructure developments across the continent, with a view to driving critical minerals consumption
Global demand for critical minerals essential for clean energy technologies is expected to grow more than three-fold by 2030. For Africa – a continent rich in a variety of minerals – this highlights a strategic opportunity to bolster economic growth through mineral development. The upcoming Critical Minerals Africa (CMA) summit – scheduled for November 6-7 in Cape Town – will play a key role in exploring how Africa can not only increase mineral exploration and extraction, but also maximize value addition through local refining and manufacturing.
Africa holds approximately two-thirds of global cobalt reserves, around 30% of lithium and significant shares of other critical minerals, including manganese, copper and iron ore. Leading mineral markets on the continent include the Democratic Republic of Congo (DRC), which contributes over 70% of global cobalt production; Gabon, ranking second in global manganese production; and Zambia, recognized as the largest exporter of unrefined copper globally. Additionally, Zimbabwe ranks as the world’s third-largest exporter of chromium ore and holds the largest lithium reserves in Africa.
Despite this substantial resource base, challenges persist in value addition and processing. Currently, China dominates the global mineral processing market, particularly in the production of lithium and cobalt. The country imported approximately $10 billion worth of minerals in 2019 from sub-Saharan Africa alone, underscoring the region’s reliance on foreign processing capabilities. While the DRC dominates cobalt mining globally, 60% of cobalt processing occurs in China, while in 2022, Zambia exported $6.6 billion in raw copper – most of which was sent to China.
Recent developments, however, aim to reverse this trend, with an influx of infrastructure investments and the introduction of policies that support domestic processing capabilities. Last October, South African mining and minerals advisory firm Q Global Commodities partnered with investment firm F9 Capital Management to invest $1 billion in critical mineral production across southern and eastern Africa. The venture, targeting lithium, copper and nickel production, aims to develop new processing plants and logistics infrastructure.
From a policy standpoint, several African countries are implementing reforms aimed at encouraging local mineral processing and value addition. In 2023, Namibia and Zimbabwe banned the export of unprocessed lithium and other critical minerals, leveraging rising global demand for transition metals and minerals. Both countries aim to regulate these exports, with Namibia only allowing small quantities of the specified minerals with the approval of its Ministry of Mines and Energy, and Zimbabwe emphasizing local battery-grade lithium production from concentrates.
Against this backdrop, a dedicated panel at CMA 2024 – Advanced Manufacturing, End Use and Supporting Infrastructure for Critical Minerals Consumption Across Africa – will explore strategies for enhancing value addition within the continent’s critical minerals sector. Additionally, the session will address the crucial role of supporting infrastructure in facilitating extraction, processing and distribution, as well as the impact of policy reforms in incentivizing new refining capabilities.
Distributed by APO Group on behalf of Energy Capital & Power.
High angle view machinery
About CMA:
CMA is the largest gathering of critical mineral stakeholders in Africa. Taking place from November 6 – 7 in Cape Town, the event positions Africa as the primary investment destination for critical minerals. This year’s edition takes place under the theme Innovate, Enact, Invest in African Critical Minerals to Sustain Global Growth, connecting African mining projects and regulators with global investors and stakeholders to untap the full potential of the continent’s raw materials. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.