African nations with vast critical mineral reserves convened in Abidjan to forge a united strategy aimed at transforming their geological wealth into sustainable economic growth, industrial power, and social progress. The focus was on harnessing these resources to drive value creation on the continent, securing development financing, and building regional value chains capable of meeting surging global demand.
Ministers from resource-rich African countries joined forces with development partners for a high-level ministerial conference in Abidjan. The gathering brought together key stakeholders including energy, mining, and green economy officials, alongside representatives from the African Union Commission, the African Continental Free Trade Area secretariat, the United Nations Economic Commission for Africa, regional development banks, financial institutions, and international investors.
Abidjan hosts landmark agreement to reclaim Africa’s mineral wealth
The meeting’s central mission was to redefine Africa’s role in the global critical minerals economy. With over 30% of the world’s strategic minerals for the energy transition—including cobalt, lithium, graphite, rare earths, platinum group metals, copper, manganese, and nickel—Africa holds a resource base valued at nearly $29.5 trillion. Yet, most of this wealth remains untapped, with an estimated $8.6 trillion still buried underground.
A paradigm shift in resource governance
Opening the conference, the President of the African Development Bank (AfDB), Sidi Ould Tah, underscored the urgency of a fundamental overhaul in how Africa manages its natural wealth. “This is not just about extracting minerals—it’s about redefining our relationship with them,” he stated. “We must transition from exporting raw materials to building integrated, value-added industries that lift our people out of poverty and position Africa as a leader in the global green economy.”
He highlighted the need to prioritize local processing of raw materials, strengthen domestic financial institutions, and invest in resilient infrastructure. “Africa boasts over 100 development finance institutions, yet their combined balance sheet represents only 1% of the global total. Consolidating and recapitalizing these institutions is not optional—it’s essential,” he emphasized.
Côte d’Ivoire charts a bold path forward
The Ivorian Minister of Mines, Petroleum, and Energy, Mamadou Sangafowa-Coulibaly, reinforced the call for continental solidarity. “No single nation can unlock the full potential of its minerals alone. We must forge regional value chains, share expertise, and align our policies to ensure that our resources benefit all Africans,” he said.
He revealed that nearly three-quarters of Côte d’Ivoire’s territory holds potential for critical minerals, positioning the country as a future hub in the global supply chain. Under President Alassane Ouattara’s vision, Côte d’Ivoire aims to achieve upper-middle-income status by 2030—a goal supported by a 2026–2040 mineral and energy strategy valued at 38 trillion West African CFA francs, with 88% of funding expected from private investment.
Global demand surges: Africa’s moment to lead
The stakes couldn’t be higher. By 2040, global demand for minerals like lithium, platinum group metals, and copper is projected to skyrocket—by 842%, over 1,000%, and 88% respectively, compared to 2023 levels. The electric vehicle and battery value chain alone could expand from $7 trillion in 2030 to $59 trillion by 2050.
African leaders at the conference made it clear: the time for exporting unprocessed minerals is over. Their strategy focuses on industrialization, job creation, and sustainable prosperity—leveraging Africa’s mineral wealth to fuel a new era of inclusive growth and technological advancement.
