Africa Seeks Bigger Gains From Its Critical Mineral Wealth

Delegates said stronger regional cooperation is essential if Africa wants to build competitive industries around its mineral resources.

African leaders are calling for the continent's vast reserves of critical minerals to become the foundation for industrial growth, quality jobs and stronger regional economies instead of remaining a source of raw material exports. The message came from the Ministerial Forum on Critical Minerals, Value Chains and Beneficiation, held in Abidjan, where ministers, development institutions, private sector leaders and international partners agreed that Africa must capture more value from its natural resources.

The forum, organised by the African Development Bank Group, highlighted that Africa holds around 30% of the world's critical mineral deposits, including cobalt, lithium, graphite, copper, manganese, nickel, platinum group metals and rare earth elements. Despite this rich resource base, much of the continent still exports unprocessed minerals, leaving manufacturing, technology development and high-value jobs to other regions.

Regional cooperation seen as the path to industrial growth

Delegates said stronger regional cooperation is essential if Africa wants to build competitive industries around its mineral resources. They called for greater investment in reliable energy supplies, transport networks, industrial zones and ports that can support mineral processing and manufacturing across borders. Better geological data, investor-friendly regulations and stronger governance were also identified as key ingredients for attracting long-term investment.

African Development Bank Group President Dr Sidi Ould Tah said the meeting marked the beginning of a new approach to how Africa manages its mineral wealth, urging countries to create partnerships that deliver greater economic benefits for African citizens. Ivory Coast's Minister of Mines, Petroleum and Energy, Mamadou Sangafowa Coulibaly, echoed that message, saying Africa is ready to use critical minerals as a catalyst for industrial transformation rather than remaining a supplier of raw materials.

Hanan Morsy, Deputy Executive Secretary of the United Nations Economic Commission for Africa (UNECA), described the global demand for critical minerals as a once-in-a-generation opportunity. She said the African Continental Free Trade Area (AfCFTA) offers the framework for countries to specialise in different parts of regional value chains while collectively capturing far more value than they can through isolated national strategies.

Strong governance and investment remain central priorities

International partners also stressed that Africa's industrial ambitions will depend on transparent institutions and predictable regulatory systems. Jeremy Wiggins, Deputy Secretary for International Affairs at the U.S. Department of the Treasury, said the continent has the resources, workforce and potential to become one of the world's leading industrial growth stories, adding that strong governance creates confidence for investors and supports sustainable development.

Participants also highlighted the importance of technology transfer, skills development, transparent supply chains and regional collaboration to ensure mineral wealth delivers lasting economic benefits. They said the African Development Bank Group can help countries prepare investment-ready projects, finance critical infrastructure, reduce investment risks and mobilise funding under the New African Financial Architecture for Development (NAFAD), helping Africa establish competitive mineral value chains that generate jobs, strengthen industries and retain more wealth on the continent.