Africa’s abundant reserves of critical minerals spark international scramble amid energy transition

   AS the world grapples with the imperative shift from fossil fuels to renewable energy sources, Africa has come into the spotlight for holding substantial reserves of essential minerals required for this transformation.

   A recent analysis reveals that the African continent is home to an estimated 30-75 percent of the world’s reserves of vital minerals, including lithium, phosphate, copper, chromium, manganese, gold, platinum, diamonds, and aluminum.

Lithium, in particular, has gained immense significance due to its role in powering the energy transition. Countries are increasingly transitioning from gas and petrol-based economies to ones based on renewable sources, making lithium a crucial element for energy storage in batteries. Zimbabwe, which is set to hold presidential elections on August 23, stands out as a key player in this mineral landscape.

   The nation boasts Africa’s largest lithium reserves, ranking fifth globally in lithium reserves. Notably, Zimbabwe and Namibia held positions in the top ten lithium producers globally in 2018, hinting at their potential impact on the emerging lithium market.

   Zimbabwe’s ambitions are substantial – the nation is poised to meet up to 20 percent of the world’s lithium demand in the near future. The Bikita mine, situated in the province of Masvingo, claims the title of Zimbabwe’s largest lithium mine, holding an impressive 11 million tons of the valuable mineral.

   The Democratic Republic of the Congo (DRC) joins the fray with its potentially vast lithium reserves, positioning itself as a significant global supplier. The DRC’s major lithium mines, including Manono and Gatumba-Gitarama, could solidify its role as a key player in the lithium market.

   Mali and Nigeria also contribute to Africa’s mineral wealth. Mali’s principal mines, Goulamina and Bougouni, hold substantial lithium reserves, while Nigeria displays promising potential despite its current limited production levels.

   This surge in African mineral wealth has drawn the attention of various international players, including Chinese, American, Australian, Canadian, Indian, and European interests. Presently, China leads the competition due to its dominant control over global mineral extraction and refining, particularly in lithium, cobalt, nickel, and manganese.

   China’s foothold is reinforced by strategic investments in Zimbabwean and Congolese lithium mines, aligning with the country’s objective of securing its mineral supply chain for the rapidly growing electric vehicle market.

   This global competition, however, raises concerns about the potential ramifications for African nations. Critics argue that China’s prioritization of its interests could negatively impact local communities and ecosystems through environmental damage and displacement.

   With battery producers’ demand for lithium expected to surge by 83 percent by 2027, African nations face a unique opportunity to strengthen their economic position on the global stage. Balancing these potential benefits with environmental and social responsibility will be a critical challenge as the world watches Africa’s mineral-rich territories become pivotal players in the energy transition.

   Source: Africa Briefing