Leaders from Africa’s critical mineral-rich nations converged in Abidjan to chart a bold new course for the continent’s vast underground wealth. Their shared vision? Transforming these strategic resources into engines of economic, industrial, and social progress. At the heart of the discussions: maximizing local value creation, securing development financing, and building robust regional value chains to meet soaring global demand.
Ministers from across Africa—responsible for Mines, Energy, Industry, Green Economy, and Natural Resources—joined forces with representatives from the African Union Commission, the African Continental Free Trade Area (AfCFTA) secretariat, the United Nations Economic Commission for Africa, regional development banks, financial institutions, and international investors for a landmark ministerial conference.
Abidjan hosts historic African mining pact
The gathering marked a pivotal moment: redefining Africa’s role in the global critical minerals economy. The collective resolve? Ensuring the continent fully capitalizes on its mineral wealth to fuel sustainable and inclusive growth.
A paradigm shift for Africa’s resource future
Opening the conference, the President of the African Development Bank (AfDB), Sidi Ould Tah, underscored the urgent need for a fundamental overhaul of how Africa manages its natural resources.
«This gathering is about rewriting the rules,» he stated. «We must shift from raw material exporters to value-added producers, ensuring our people directly benefit from the continent’s bounty.» His call centered on two priorities: local processing of raw materials to capture greater value and a radical reform of development financing.
«Africa hosts over 100 development finance institutions, yet their combined balance sheets represent just 1% of global DFIs,» he noted. «We must consolidate and recapitalize these institutions to unlock their full potential.» He also emphasized the need for resilient infrastructure and homegrown industries to fully exploit mineral resources.
Côte d’Ivoire’s mineral strategy: a blueprint for the continent
The Ivorian Minister of Mines, Petroleum, and Energy, Mamadou Sangafowa-Coulibaly, echoed the call for stronger continental solidarity.
«The real challenge lies in turning these resources into lasting wealth and shared prosperity,» he said. «While each nation’s path may differ, none can succeed alone. We must collaborate to build regional value chains that uplift all Africans.»
Highlighting Côte d’Ivoire’s untapped potential, he revealed that nearly three-quarters of the country’s territory holds critical minerals. This strategic asset aligns with President Alassane Ouattara’s vision to elevate Côte d’Ivoire to upper-middle-income status by 2030.
To achieve this, Abidjan is rolling out an integrated mineral and energy resource policy (2026–2040) valued at 38 trillion CFA francs, with 88% of funding expected from the private sector.
An unprecedented opportunity amid surging global demand
Africa holds roughly 30% of the world’s reserves of minerals critical to the energy transition, including cobalt, lithium, graphite, rare earths, platinum-group metals, copper, manganese, and nickel. The estimated value of the continent’s mineral resources? A staggering $29.5 trillion—over eight times its annual GDP and nearly 20% of global reserves. Of this, $8.6 trillion remains untapped.
The stakes are rising. By 2040, global demand for platinum-group metals could surge by over 1,000%, lithium by 842%, and copper by 88% compared to 2023 levels.
Seizing the moment to industrialize
This is a once-in-a-generation chance. The electric vehicle and battery value chain alone could expand from $7 trillion in 2030 to $59 trillion by 2050. African leaders in Abidjan are determined to break free from the colonial-era model of exporting raw materials. Their goal? Leveraging critical minerals to drive industrialization, create jobs, and deliver sustainable prosperity across the continent.
