Cape Town: Africas abundant reserves of critical minerals – including cobalt, lithium, copper, and platinum group metals (PGMs) – position it at the heart of global supply chains essential for renewable energy deployment and electric vehicle (EV) adoption.
According to African Press Organization, the energy transition is driving unprecedented demand for minerals critical to clean technologies. Solar panels, wind turbines, EV batteries, and energy storage systems require significantly more cobalt, lithium, and nickel than conventional energy systems. Forecasts indicate that global demand for these minerals could increase up to five-fold by 2035 compared to 2023 levels. Despite surging demand, global supply faces pressure from potential deficits toward the end of the decade. Questions around sourcing, sustainability, and project development are intensifying as geopolitical tensions, concentrated refining capacities, and supply chain vulnerabilities highlight the need for diversified and reliable sources of critical minerals.
Africa hosts some of the world’s richest deposits of critical minerals, making the continent indispensable to the energy transition. In 2024, Africa led global production of cobalt, copper, gold, and PGMs, while rapidly expanding its lithium sector. The Democratic Republic of Congo (DRC), Zambia, Zimbabwe, Mali, Namibia, South Africa, and Morocco are at the forefront of production. China has long been the largest foreign investor in Africa’s mining sector, leveraging government-backed initiatives such as the Belt and Road Initiative to secure resource access. More recently, the U.S. and EU have increased engagement, prioritizing strategic partnerships, infrastructure investments, and cooperation agreements to secure mineral supply chains and support responsible mining practices.
Cobalt remains a cornerstone of lithium-ion battery production. The DRC dominated global cobalt supply in 2024, with top mines including Kisanfu, Tenke Fungurume, and Kamoto. Together, these operations accounted for more than 50% of global cobalt output, highlighting Africa’s central position in this critical sector. The DRC is implementing strategies to capture more value domestically, developing refining capacity to convert cobalt hydroxide into higher-value cobalt metal. Ethical production, traceability, and environmental standards are emphasized to position the country as a responsible supplier. Temporary cobalt export bans in 2025 helped stabilize global prices, and the government is now considering flexible export quotas to balance market stability with producer profitability.
Africa produced 124,230 tons of lithium carbonate equivalent (LCE) in 2024, primarily from hard rock spodumene deposits. Zimbabwe leads the continent’s output, with Mali, Namibia, South Africa, Ghana, and the DRC ramping up production. The continent holds 26.7 million tons of identified lithium resources, representing 5% of the global total. Morocco currently hosts viable battery-grade chemical refining, while Zimbabwe is advancing a $450 million refinery at the Mapinga Industrial Park. African lithium production costs, ranging from $250 to $650 per ton of spodumene concentrate, remain competitive against the global benchmark of approximately $800 per ton in Australia. State participation is increasing, with Mali, Ghana, and Zimbabwe mandating national equity stakes to retain economic benefits and ensure long-term strategic value from lithium development.
Securing African critical mineral supply chains is a global priority. The U.S., through the Development Finance Corporation (DFC) and the Minerals Security Partnership, has invested over $200 million in African mining projects. These initiatives focus on infrastructure development, responsible sourcing, and local battery production in collaboration with the DRC and Zambia. Projects like the Lobito Corridor, a rail link connecting Zambia and Angola, aim to create a transcontinental trade route to facilitate mineral exports. Backed by a $553 million DFC loan and EU support, this corridor exemplifies how infrastructure investments are critical to connecting African mining hubs to global markets efficiently and sustainably.
Africa’s critical mineral reserves are essential for global energy security and the clean energy transition. With ongoing exploration, investment in refining capacity, and strategic partnerships, the continent is poised to expand its role in supplying the minerals needed for a decarbonized future.