African countries strive to build a key mineral industry chain

2024-12-27

At the recent Africa Investment Forum held in Rabat, Morocco, attendees called on African countries to seize the important opportunity of global energy green transformation, fully tap into the potential of key mineral resources, and strive to build a high value-added key mineral processing industry chain. The African continent has abundant key mineral reserves, including 95% of global chromium and 90% of platinum group metals. The report "Utilizing Key Minerals in Sub Saharan Africa" released by the International Monetary Fund (IMF) in April this year suggests that many African countries have become production centers for key minerals worldwide. For example, the cobalt production of the Democratic Republic of Congo accounts for over 70% of global cobalt production and approximately half of the world's proven reserves; The combined manganese production of South Africa, Gabon, and Ghana accounts for over 60% of global manganese production; Zimbabwe, the Democratic Republic of Congo, and Mali have large amounts of undeveloped lithium mines. The Sub Saharan Africa Regional Economic Outlook report released by the IMF shows that sub Saharan Africa holds 30% of the world's key minerals, and it is expected that mineral extraction will promote a 12% increase in the gross domestic product of sub Saharan African countries by 2050. If we shift from mineral extraction to higher value-added mineral processing, this growth will be even more significant. With the deepening of global energy transformation and the rapid development of industries such as new energy vehicles and lithium batteries, the demand for key minerals such as iron, copper, and chromium in various countries has significantly increased. Research institutions predict that by 2050, the global market for electric vehicles and batteries is expected to reach a value of $59 trillion, and African countries are expected to play a key role in the rapid development of this industry. South African President Ramaphosa previously stated that the African continent contains minerals that are crucial for the global energy transition and have the potential to become a pivot for the global energy transition centered around mining. He called on African countries to use this transformation to inject new vitality into the mining industry and consolidate the mining value chain. African countries are making efforts to promote the upstream movement of local key mineral processing towards the industrial and value chains. With the advancement of economic integration in Africa, mining cooperation among African countries continues to strengthen, and a key mineral processing market with a certain scale has been initially formed, driving the gradual improvement of the regional industrial chain. For example, the Democratic Republic of Congo and Zambia have collaborated in the field of lithium battery production, providing key components such as batteries for two - and three wheeled electric vehicles that are popular in the African market. African countries actively introduce foreign direct investment. Swiss mining company Glencore has invested $8 billion in the Democratic Republic of Congo to introduce advanced technology and equipment, which is expected to increase the country's cobalt production to 30000 tons per year. Zambia has attracted $10 billion in new investment in the past three years, committed to achieving the goal of increasing copper production to 3 million tons per year by 2031. The Forum on China Africa Cooperation - Beijing Action Plan (2025-2027) adopted at the Beijing summit of the Forum on China-Africa Cooperation in 2024 proposes to support the construction of Africa's local value chain, the development of manufacturing industry and the deep processing of key minerals. In recent years, Chinese companies have actively participated in the development and processing of key minerals in African countries, helping them extend their local industrial chains. The Zambia Chambishi Copper Mine, invested by China Nonferrous Metals Mining Group, has established a production digital control center, which achieves controllable production processes and refined business management through digital means, solving frontline safety production problems. The Kinseville mine in the Democratic Republic of Congo, invested by China Minmetals Corporation's Minmetals Resources, has maintained stable production for 11 consecutive years. Chinese enterprises carry out renovation and optimization of mines, deliver advanced technology and processes, continuously strengthen cooperation with local communities, and benefit local people. (New Society)

Edit:Yi Yi    Responsible editor:Li Nian

Source:www.people.cn

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