Since the colonial era, Africa has largely remained trapped as an exporter of raw commodities. In the mining sector, ores are extracted from African soils, brought to the coast along pit-to-port railways, then exported to overseas markets. Only after leaving Africa's shores is the real value earned through refining, processing and manufacturing activities.
In this depressing paradigm, Africa's mineral wealth enriches mainly outside interests, leaving the continent at the bottom of the global economic food chain.
Rapidly increasing demand for critical minerals, however, offers another opportunity for the continent to strike a new course. Almost all the minerals needed for vital energy transition and advanced technological products can be found in Africa. By some estimates, the continent contains about 30 of global critical mineral reserves, including huge volumes of copper, cobalt, lithium, bauxite, iron ore and rare earths. Yet it captures just 10 of the value of these commodities.
