African governments are reasserting control over their mineral wealth through a growing wave of policies aimed at increasing local value addition and reducing unprocessed exports, senior officials and industry figures said at a key industry gathering.
The two-day London Indaba, held at the InterContinental Park Lane, gathered policymakers, mining executives, analysts, and development partners to discuss the rising global demand for critical minerals and its implications for Africa.
With the energy transition accelerating, Africa is emerging as a central supplier of key raw materials such as cobalt, lithium, graphite, and rare earth elements. However, an increasing number of African governments assert that the extractive model of the past, defined by raw material exports and limited domestic beneficiation, is no longer viable for Africa's economic future.
A growing number of governments are implementing or proposing restrictions on the export of unprocessed minerals in an effort to encourage downstream investment.
Zimbabwe's government claims its restriction on raw lithium exports, introduced in 2013 , have attracted significant Chinese-backed investment in local processing facilities. Inspired by Indonesia's raw nickel ore export ban, Zimbabwean officials hailed the move as a way to strengthen fiscal revenues, generate employment, and build local industries.