Is Africa on track to strengthen mineral security?

The surge in demand for critical minerals to propel the world’s attempt at a green revolution has intensified the debate around the need for Africa to add value to its precious minerals. Across the continent, countries are starting to take strict measures that demand more from countries that buy Africa’s minerals. The Acting Executive Secretary of the UN Economic Commission for Africa, Antonio Pedro, highlighted the importance of mineral security and the need for value addition in a recent interview with CNBC Africa. Pedro emphasized that mineral security involves utilizing resources to meet basic needs such as access to energy, livelihoods, and promoting resource-driven industrialization. He referred to the African Mining Vision adopted by Africa in 2009 as the main framework to achieve mineral security, focusing on increasing linkages between the extractive sector and the local economy. The interview shed light on recent developments in the region, including the Democratic Republic of Congo's (DRC) proactive steps towards value addition in its cobalt industry. The DRC's plans to invest in factories that process cobalt signify a move towards improving the battery and electric value chain on the continent. This includes the establishment of institutions like the DRC Battery Council and the Centre of Excellence on Battery Production, as well as the creation of special purpose vehicles to involve citizens in the opportunity. A pre-feasibility study is underway to create a transboundary DRC-Zambia special economic zone for localizing the battery and electric vehicle value chain. Furthermore, Pedro discussed reforms in the mining sector across Africa, citing examples like Uganda and Kenya tightening controls to promote local value addition. These reforms aim to support the localisation of value chains through smart regulations and incentives tailored to each country's strengths. Pedro highlighted the significance of local content policies in creating opportunities for small and medium enterprises to benefit from the mining sector. He pointed out that countries like Indonesia have imposed bans on the export of raw materials to promote local industry growth, emphasizing the importance of a context-specific approach to regulatory frameworks. Pedro underscored the broader opportunities in Africa beyond extractives, including the deployment of renewable energy and the production of electric vehicles like motorbikes and minibuses. He emphasized the role of local industries in facilitating the continent's transition to sustainable technologies, such as solar panels and electric transport systems. Pedro's insights reflect a growing momentum towards enhancing mineral security and value addition in Africa, signaling progress but also the need for further acceleration to fully realize the continent's potential in the global green revolution.