AfDB: Africa Must Utilise Its 30% Global Share of Minerals, Halt Export

Emmanuel Addeh in Abuja

The African Development Bank (AfDB) has urged African countries to halt the export of raw critical minerals and instead focus on local processing, beneficiation and regional value chains to unlock greater economic value from the continent’s vast mineral resources.

The call was made at the Ministerial Forum on Critical Minerals, Value Chains, and Beneficiation held in Abidjan, Côte d’Ivoire, where African ministers, representatives of continental institutions, the private sector and development partners adopted a declaration aimed at accelerating industrialisation through value addition.

In a communiqué issued at the end of the meeting, participants stressed that Africa, which holds about 30 per cent of the world’s critical mineral deposits, must move away from the long-standing practice of exporting unprocessed minerals and instead build competitive industries capable of creating jobs, particularly for women and young people.

The forum noted that despite possessing large reserves of cobalt, lithium, graphite, rare earths, platinum group metals, copper, manganese and nickel, Africa continues to capture only a negligible share of the economic value generated from these resources because most are exported in raw form for processing abroad.

According to the participants, the current model has shifted industrial development, employment opportunities and technological expertise outside the continent, while fragmented national approaches have weakened Africa’s bargaining power in global mineral value chains.

To reverse the trend, the forum called for greater investment in power, transport infrastructure and geological mapping, alongside coherent public policies, investment-friendly regulations and stronger governance of the mining sector to support local processing and beneficiation.

Speaking at the forum, President of the African Development Bank Group, Dr. Sidi Ould Tah, said the gathering marked the beginning of a new era in Africa’s management of its mineral wealth.

“By bringing together African governments, investors, development financing institutions, technical and financial partners here in Abidjan, we have opened a new chapter in relations between Africa and the rest of the world regarding the exploitation and management of critical minerals,” he said.

Tah added that Africa must make a paradigm shift to better manage its mineral resources and ensure they deliver greater benefits for its people through industrialisation and value addition.

Also speaking, Deputy Executive Secretary of the United Nations Economic Commission for Africa (UNECA), Dr. Hanan Morsy, described the global transition to clean energy as a historic opportunity for the continent.

“The world is entering an era that is built on critical minerals. For Africa, this presents an opportunity that is as significant as independence 60 years ago. But opportunities don’t transform economies. Strategy does,” she said.

The participants also underscored the need to strengthen regional partnerships, promote technology transfer, develop local technical skills and improve transparency across mineral supply chains.

They expressed confidence that the AfDB would play a leading role in mobilising financing, supporting project preparation, reducing investment risks and helping African countries build competitive mineral value chains capable of driving long-term industrial transformation.