Harnessing Africa's Critical Minerals Wealth

Africa holds about 30 per cent of the world’s mineral resources, many of which are vital for the energy transition from fossil fuels to renewables and low-carbon technologies, including electricity networks, battery storage and electric vehicles (Chandler, 2022). Global efforts to meet the Paris Agreement’s ambition of net-zero emissions by 2050, therefore, would place ‘Africaat the heart of the green energy transition, both in environmental and geopolitical terms’.

In addition to their role in the energy transition, these minerals already serve as an important source of revenue for African countries, comprising about one-third of exports from at least 33 African countries in 2019. Moreover, 45 out of the 54 African countries were classified as commodity-dependant, with 17 classified as dependent on non-fuel minerals, ores and metals export.

This issue of Commonwealth Trade Hot Topics, the first of a two-part series, highlights the role of Africa in the global energy transition. It examines the trends and dynamics regarding reserves, production and trade of critical minerals on the continent, especially those needed for Africa’s own energy transition. It concludes by proposing five pathways for African countries to harness their critical minerals potential.