Critical minerals have become the new gold of the global economy, essential for powering clean energy and digital innovation. Africa, holding nearly a third of the world’s identified reserves of cobalt, lithium, nickel, graphite and rare earths, finds itself at the heart of an intense geopolitical rivalry. A high-level forum held in late July 2026 brought together policymakers, extractive sector analysts and civil society leaders to examine how this shift is reshaping Africa’s economic and security landscape.
Geopolitical competition reshapes Africa’s economic power dynamics
Global demand for critical minerals is surging as nations accelerate vehicle electrification and digital infrastructure rollouts. With Africa sitting on approximately 30% of the planet’s strategic mineral deposits, the continent has become a key battleground in a multi-polar contest involving Washington, Beijing, Brussels, Abu Dhabi, Riyadh and Ankara. These actors are racing to secure supply chains through bilateral deals, equity stakes and targeted investments in mining corridors.
Experts at the conference highlighted how this competition is fundamentally altering Africa’s economic governance. Resource-rich states now wield unprecedented bargaining power, yet remain vulnerable to price volatility and the lure of short-term resource rents. Case studies from the Democratic Republic of the Congo (DRC) for cobalt, Guinea for bauxite, Zimbabwe for lithium and Mozambique for graphite revealed contrasting outcomes—where mining riches can either drive industrial growth or deepen instability.
Mining governance and security structures under strain
Governance emerged as a pivotal theme, with speakers noting that most value addition still occurs outside Africa. Refining, chemical processing and battery manufacturing remain concentrated in Asia, leaving producing countries confined to raw material extraction. However, recent initiatives are beginning to challenge this imbalance. The joint DRC-Zambia agreement to build a regional electric battery value chain stands out as a landmark step toward regional industrial integration.
Meanwhile, critical mineral extraction often takes place in areas plagued by latent or active conflicts. Eastern DRC, the Sahel and parts of the Gulf of Guinea exemplify regions where mineral wealth coexists with institutional fragility—and where armed groups exploit opaque export networks. Participants urged stronger traceability systems, modeled after the Extractive Industries Transparency Initiative (EITI), and stronger continental coordination to curb illicit trade and reinforce security.
Building a second independence through local processing
The idea of a ‘second independence’ resonated strongly during the discussions—envisioning an end to the colonial-era model where Africa exports raw materials only to import high-value manufactured goods. Achieving this vision requires massive investments in energy infrastructure, engineering training, dedicated special economic zones for metallurgical processing and a complete overhaul of mining taxation.
Several African governments are taking bold action. Guinea has mandated the construction of an alumina refinery as part of the Simandou mega-project. Zimbabwe banned raw lithium exports in 2022. Namibia and Botswana are drafting regulations requiring minimum local processing levels. While these moves sometimes meet resistance from foreign investors, they signal a clear break with the liberal mining policies of the 1990s.
Discussions also focused on the role of African financial institutions in structuring funding vehicles tailored to local transformation projects. The African Development Bank (AfDB) and Afreximbank are developing specialized instruments, while Gulf sovereign wealth funds are increasingly eyeing African mining assets. The struggle for mineral sovereignty is being fought not only in mines and ports, but also in trading floors. This conference underscored that control over critical minerals now stands as one of Africa’s defining markers of power in the 21st century.
