In Abidjan, African nations with critical mineral wealth and their global partners converged to chart a bold new path—one where the continent’s vast underground resources fuel economic, industrial, and social transformation. The focus was clear: harnessing mineral riches to drive local value creation, sustainable development, and resilient regional supply chains amid soaring global demand.
Ministers from resource-rich African countries, alongside representatives from the African Union Commission, the African Continental Free Trade Area (AfCFTA) secretariat, the UN Economic Commission for Africa, regional development banks, financial institutions, and international investors, gathered for a high-level ministerial conference to redefine Africa’s role in the global critical minerals economy.
A new mining pact for Africa’s future
The gathering marked more than just a policy discussion—it symbolized a shared resolve to shift the continent from raw material exporter to industrial powerhouse. By leveraging its estimated 30% share of the world’s critical mineral reserves—including cobalt, lithium, graphite, rare earths, platinum group metals, copper, manganese, and nickel—Africa is positioning itself at the heart of the energy transition.
The total value of Africa’s mineral endowment is pegged at nearly $29.5 trillion—over eight times the continent’s annual GDP and close to one-fifth of global reserves. Yet, with an estimated $8.6 trillion in untapped potential, the stakes are even higher. As global demand surges—platinum group metals expected to grow by over 1,000%, lithium by 842%, and copper by 88% by 2040—the time to act is now.
Transforming resources into shared prosperity
The president of the African Development Bank (AfDB), Sidi Ould Tah, opened the conference with a call to overhaul Africa’s resource governance. “This is not just about mining more—it’s about mining smarter,” he stated. “We must prioritize local processing, deepen industrialization, and build resilient infrastructure to ensure these minerals create lasting benefits for our people.”
He underscored a critical gap: while Africa hosts over 100 development finance institutions, their combined balance sheets represent only 1% of global development finance assets. “We cannot afford to leave value on the table,” he asserted. “Recapitalizing and consolidating these institutions is essential to financing the continent’s transformation.”
Côte d’Ivoire charts a bold mineral-led growth strategy
Côte d’Ivoire’s Minister of Mines, Petroleum, and Energy, Mamadou Sangafowa-Coulibaly, emphasized the need for continental solidarity. “No nation can go it alone. We must build regional value chains that spread prosperity equitably across borders,” he said. With nearly 75% of the country’s land believed to hold critical minerals, Côte d’Ivoire is positioning itself as a key player in Africa’s industrial future.
The government has unveiled a sweeping 2026–2040 mineral and energy strategy, valued at 38 trillion West African CFA francs. Notably, 88% of the funding is expected to come from the private sector, signaling confidence in the country’s resource potential and policy direction. This vision aligns with President Alassane Ouattara’s ambition to elevate Côte d’Ivoire to upper-middle-income status by 2030.
Seizing the energy transition opportunity
The global energy transition is accelerating demand for critical minerals at an unprecedented pace. The value chain for electric vehicles and batteries alone could expand from $7 trillion in 2030 to $59 trillion by 2050. Africa, with its vast reserves and strategic location, stands at the crossroads of this transformation.
Yet, the continent’s leaders are determined not to repeat past patterns of exploitation. “We are not here to sell raw materials cheaply,” declared one delegate. “We are here to build industries, create jobs, and ensure our minerals power a sustainable, inclusive future for all Africans.”
