ADDIS ABABA, Ethiopia — At a moment when the world stands at the crossroads of an unprecedented energy transition, Africa’s abundant deposits of cobalt, copper, lithium, and other critical minerals have emerged as potential cornerstones of a greener global economy. Yet the question remains: Will these valuable resources translate into equitable prosperity for the continent, or perpetuate the very dependency they seek to end?
During an event held in Addis Ababa and online on June 4 to mark the 60th anniversary of the UN Conference on Trade and Development (UNCTAD), Secretary-General Rebeca Grynspan urged leaders to seize the opportunity to chart a more inclusive path forward. “Cobalt, manganese, graphite, lithium are not just elements on the periodic table,” Ms. Grynspan said. “They can be the building blocks of a new era – powering our homes, driving our vehicles, and connecting our world. Catalyzing a green revolution that can lift millions out of poverty and create a fairer world.”
A Break from Extractive Legacies
To fulfill this ambitious vision, Ms. Grynspan insisted on abandoning the “extractive model” that historically has left resource-rich nations “dependent and poor.” Instead, she noted, “we must embrace a new paradigm that prioritizes domestic value addition, fosters regional integration and empowers local communities.”
That paradigm shift is already being championed by officials at the UN Economic Commission for Africa (UNECA). Antonio Pedro, UNECA’s deputy executive secretary, pointed to the possibilities inherent in tapping into Africa’s vast mineral stores within its own borders. “Imagine the potential if African minerals are processed into African batteries, installed into African cars that are driven across the continent and the world,” he said. This vision, he argued, could accelerate renewable energy deployment, create decent jobs, and establish Africa as a hub for green industrialization.
From Policy to Practice
Turning these grand ideas into reality, however, requires strong and forward-looking policies. Monique Nsanzabaganwa, deputy chairperson of the African Union Commission, underscored that “harnessing critical minerals for sustainable development in Africa would require a different and strategic approach to policymaking.” She also called for “fair international structure and systems, especially in terms of regulations and rules,” pointing out that certain existing and pending global rules threaten to impede the continent’s efforts at beneficiation and value addition.
Indeed, Africa is home to a significant share of the world’s key energy transition minerals—55% of cobalt, nearly half of global manganese, more than one-fifth of natural graphite, and notable amounts of copper and nickel. The continent’s largely untapped deposits symbolize not only a path to cleaner energy worldwide but also a critical juncture in its own economic journey.
A Question of Ownership and Equity
As global demand for these minerals surges, the core debate revolves around ownership, equity, and sustainability. Who will truly benefit from the unprecedented scramble for cobalt in the Democratic Republic of the Congo or for lithium in Zimbabwe? Will African countries negotiate equitable trade terms that foster regional cooperation and uplift local industries? Or will entrenched global market dynamics continue to channel the lion’s share of profits outside the continent?
Leaders, diplomats, and experts convened at the UNCTAD event to explore these questions and to advocate for a resource-based development trajectory that is both inclusive and transformative. Whether this vision materializes ultimately hinges on political will, policy innovation, and global collaboration—ingredients that could steer Africa toward a future where its mineral riches work for, not against, its people.
