Unlocking Africa's potential in the global critical minerals market

Sub-Saharan Africa is at the forefront of the global critical minerals market, with the region holding 30 per cent of the world's reserves. Veronica Bolton Smith, the CEO of Critical Minerals Africa Group (CMAG), is leading the charge to empower African companies, attract investments, and promote sustainable practices. With the launch of CMAG, the focus is shifting from mere extraction to value addition opportunities that can benefit local economies and communities. Bolton Smith emphasizes the importance of driving inward investments into Africa by exploring value chain opportunities, positioning Africa as a key player on the global stage. As the demand for minerals like nickel, cobalt, and lithium surges due to green technology, Africa is strategically poised to capitalize on these growing markets. Bolton Smith highlights the need for African businesses to diversify and focus on developing reserves in copper and other critical minerals essential for power grid development. By engaging in dialogues with governments, CMAG is working on critical mineral and beneficiation strategies tailored to the unique needs of each country or trading block. Bolton Smith stresses the importance of smaller, more focused approaches to critical minerals, aimed at creating sustainable industries and job opportunities. Africa faces challenges in attracting global businesses to invest in critical minerals. Bolton Smith advocates for robust policies, incentives, and an enabling environment to increase Africa's attractiveness as a destination for investments. By collaborating with governments and regional bodies, CMAG aims to overcome barriers to entry and enhance Africa's position in the global critical minerals market. The key to unlocking Africa's economic potential lies in building green value chains and sustainable supply chains. Grounding inward investments in Africa's industrialization plans and promoting responsible mining practices are essential steps towards achieving economic growth and energy transition. As Africa emerges as a key player in the critical minerals market, it is crucial for the continent to actively participate in global discussions and ensure its voice is heard. By aligning economic priorities with sustainable practices, Africa can leverage its rich resources to drive economic development and contribute to the global green transition.