Ministers and development partners from across Africa convened in Abidjan to chart a bold new course for the continent’s critical minerals, aiming to turn its vast underground wealth into a springboard for economic, industrial, and social transformation. The three-day gathering focused on unlocking local value, securing sustainable financing, and building resilient regional supply chains to meet surging global demand.
The high-level meeting brought together top officials from African ministries of Mines, Energy, Industry, and Green Economy, alongside representatives from the African Union Commission, the African Continental Free Trade Area (AfCFTA) secretariat, the United Nations Economic Commission for Africa, regional development banks, financial institutions, and international investors.
Abidjan’s bold vision for Africa’s mineral riches
The conference set out to redefine Africa’s role in the global critical minerals economy by shifting from raw material exports to integrated, value-added industrialization. Central to the discussions was the need to strengthen domestic processing, localize manufacturing, and create high-skilled jobs across the mining value chain.
A paradigm shift in resource governance
Opening the event, the President of the African Development Bank (AfDB), Sidi Ould Tah, called for a fundamental restructuring of how Africa manages its natural resources. “This conference is about more than policy—it’s about rewriting the rules of engagement,” he stated. “We must ensure that Africa’s mineral wealth directly benefits its people through smarter governance, stronger institutions, and bold reforms.”
He highlighted the urgent need to localize mineral processing to capture greater value, noting that while Africa hosts over 100 development finance institutions, their combined impact accounts for just 1% of global development finance. “Recapitalizing these institutions and aligning them with continental priorities is no longer optional—it’s essential,” he stressed.
Ould Tah also emphasized the importance of resilient infrastructure and homegrown industries as critical enablers for maximizing returns from mineral wealth.
Côte d’Ivoire’s strategic leap forward
The Ivorian Minister of Mines, Petroleum, and Energy, Mamadou Sangafowa-Coulibaly, underscored the importance of continental solidarity in harnessing mineral wealth. “No single nation can unlock the full potential of its resources alone,” he said. “We must build regional value chains that share technology, capital, and expertise to ensure inclusive growth.”
He revealed that nearly three-quarters of Côte d’Ivoire’s territory holds promising deposits of critical minerals, positioning the country as a rising player in the global energy transition supply chain. This resource base supports the government’s bold vision to elevate Côte d’Ivoire to upper-middle-income status by 2030.
To achieve this, Abidjan has unveiled a comprehensive mineral and energy strategy for 2026–2040, backed by a 38 trillion CFA franc investment plan, with 88% expected from private sector participation.
Africa’s mineral wealth: a global game-changer
Africa holds approximately 30% of the world’s proven reserves of key transition minerals, including cobalt, lithium, graphite, rare earths, platinum group metals, copper, manganese, and nickel. The estimated value of these resources exceeds $29.5 trillion—nearly eight times Africa’s annual GDP and nearly 20% of global mineral wealth. Yet, an estimated $8.6 trillion remains untapped.
Meanwhile, global demand is set to skyrocket by 2040. Platinum group metals are projected to surge over 1,000%, lithium by 842%, and copper by 88% compared to 2023 levels. This explosive growth is fueled by the global energy transition, particularly the rapid expansion of electric vehicles and battery technologies.
The moment to act is now
The electric vehicle and battery value chain alone could expand from $7 trillion in 2030 to $59 trillion by 2050. For Africa, this represents a once-in-a-generation opportunity to break free from the cycle of exporting raw materials and instead become a global hub for green industrialization.
By fostering regional cooperation, investing in infrastructure, and prioritizing local value addition, African leaders are determined to seize this moment and ensure that the continent’s mineral wealth drives sustainable development, job creation, and shared prosperity.
