African Mining Indaba: Developing Africa's green mineral strategy

Africa, with its abundant mineral resources, has the potential to lead the way in the global clean energy transition. Vanessa Ushie, the Acting Director at the African Natural Resources Management and Investment Centre of the African Development Bank, is championing the continent's Green Mineral Strategy as a pathway to harnessing the right investments and collaborations. In a recent interview with CNBC Africa's Fifi Peters, Ushie outlined how strategic partnerships and targeted investments could propel Africa towards a sustainable and prosperous future. The Green Mineral Strategy aims to leverage Africa's vast reserves of critical minerals such as lithium, cobalt, graphite, and manganese to drive the continent's clean energy agenda. Ushie emphasized the importance of regional collaboration to facilitate the development of a sustainable battery minerals value chain. Countries like the Democratic Republic of Congo (DRC) and Zambia have already laid the foundation for cooperation in building local battery minerals value chains, given their significant reserves of cobalt, copper, and lithium. One of the key points highlighted in the interview was the cost-effectiveness of producing battery precursor materials in Africa, particularly in the DRC. According to a study conducted in 2021 by Bloomberg NEF, it was revealed that the production costs in the DRC were three times cheaper than in the United States, the European Union, Poland, and China. This cost advantage positions Africa as a competitive player in the global market for battery minerals. Investing in skills, technology, and infrastructure is crucial to realizing the full potential of the Green Mineral Strategy. Ushie stressed the need for policy and regulatory reforms to attract the right investments and foster regional collaboration. The involvement of countries like the United States in partnerships with African nations further highlights the interest and opportunity that the continent's mineral wealth presents. As the strategy unfolds, financing will play a pivotal role in driving its successful implementation. Ushie mentioned the importance of conducting feasibility and pre-feasibility studies to identify viable projects that can attract private sector investment. The African Development Bank, along with other financial institutions, is poised to support these initiatives and ensure that Africa maximizes its green mineral potential. The Green Mineral Strategy is more than just an economic opportunity; it is a strategic imperative for Africa. By taking ownership of its mineral wealth and positioning itself as a key player in the global clean energy market, Africa can secure its future prosperity. The continent's ability to lead the sustainable development agenda hinges on effective collaboration, targeted investments, and a cohesive strategy that brings together stakeholders from across the public and private sectors. Looking ahead, Ushie envisions a future where the Green Mineral Strategy positions Africa as a major player in the battery and electric vehicles market, which is projected to be worth trillions of dollars by 2025. The successful implementation of the strategy will require collective effort from countries, regional economic communities, and various stakeholders in the ecosystem. By leveraging the expertise and resources of the private sector, Africa can unlock its green mineral potential and pave the way for a sustainable and vibrant economy. In conclusion, the Green Mineral Strategy holds the key to Africa's sustainable development and economic resurgence. With the right investments, collaborations, and vision, the continent can chart a new course towards a greener and more prosperous future.