Africa can finally mine, beneficiate and industrialise on its own terms
Summary
At the G7 summit, Kenya announced it is close to a minerals deal with the United States that will allow Kenya to refine and process its critical minerals like lithium and rare earths domestically instead of exporting raw materials. This development is part of a wider trend across Africa where countries want to add more value to their natural resources at home by building local industries and reducing raw material exports.Key Facts
- Kenya is near an agreement with the U.S. for critical minerals, focusing on local refining and processing.
- African countries like Namibia, Mali, and Ghana are implementing policies to limit raw mineral exports and increase domestic processing.
- Demand for critical minerals such as lithium, graphite, and nickel is growing rapidly due to electric vehicles and renewable energy.
- New mining projects take many years, so countries want to invest in existing mineral sources, boosting Africa’s negotiation power.
- African nations aim to move beyond mining raw materials to refining and manufacturing to gain more economic value.
- Export value increases significantly along the supply chain, from raw minerals to finished products like batteries and electric vehicles.
- Building local refining and manufacturing industries creates jobs, skills, and technology on the continent.
- Africa’s shift reflects a new approach to controlling its resource supply chains and boosting industrialization.
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