Ministers, investors and development partners from across Africa convened in Abidjan to chart a bold new path for the continent’s critical minerals—resources valued at a staggering $29.5 trillion. The focus? Turning these assets into engines of economic growth, industrial progress, and shared prosperity through local processing, regional value chains, and sustainable financing.

At a high-level ministerial conference in Abidjan, African leaders in mining, energy, industry, and green economy joined forces with regional institutions and international investors. Their shared mission: to redefine Africa’s role in the global minerals market and ensure these resources drive inclusive development.

Abidjan hosts historic mineral pact to reshape Africa’s economic future

The gathering brought together ministers from mineral-rich African nations, alongside representatives from the African Union Commission, the African Continental Free Trade Area (AfCFTA) secretariat, the United Nations Economic Commission for Africa, regional development banks, financial institutions, and global investors.

The overarching goal is clear: maximize the continent’s mineral potential to fuel sustainable, equitable growth. By shifting from raw material exports to high-value processing, Africa aims to capture a greater share of the global supply chain.

A paradigm shift in natural resource governance

Opening the conference, the President of the African Development Bank (AfDB), Sidi Ould Tah, called for a fundamental transformation in how Africa manages its mineral wealth.

“This conference is about rewriting the rules,” he stated. “We need a new partnership model—one that ensures Africa’s resources benefit its people directly, through local transformation, resilient infrastructure, and industrialization.”

He highlighted the urgent need to strengthen Africa’s development finance institutions, noting that despite over 100 such bodies on the continent, their combined assets represent just 1% of global development finance capacity. “Consolidation and recapitalization are essential to unlock Africa’s potential,” he emphasized.

Côte d’Ivoire leads with bold mineral strategy

The Ivorian Minister of Mines, Petroleum, and Energy, Mamadou Sangafowa-Coulibaly, underscored the need for continental solidarity in building shared mineral value chains.

“No single country can go it alone. Our success depends on collaboration,” he said. “We must create regional value chains that transform raw minerals into finished products—generating jobs, revenue, and long-term prosperity.”

Highlighting Côte d’Ivoire’s vast untapped potential, he revealed that nearly three-quarters of the country’s territory may hold critical minerals. This aligns with President Alassane Ouattara’s vision to elevate Côte d’Ivoire to upper-middle-income status by 2030, anchored by a $38 trillion CFA ($65 billion) mineral and energy strategy for 2026–2040, with 88% of funding expected from private investment.

Africa holds 30% of the world’s critical minerals

Africa is home to approximately 30% of the world’s reserves of key transition minerals—including cobalt, lithium, graphite, rare earths, platinum group metals, copper, manganese, and nickel. These resources are valued at nearly $29.5 trillion—more than eight times the continent’s annual GDP and nearly 20% of global mineral wealth. Yet, an estimated $8.6 trillion remains untapped.

Meanwhile, global demand is surging. By 2040, demand for platinum group metals could rise by over 1,000%, lithium by 842%, and copper by 88% compared to 2023 levels. The electric vehicle and battery supply chain alone is projected to grow from $7 trillion in 2030 to $59 trillion by 2050—an unparalleled opportunity for Africa to position itself as a global industrial hub.

Africa’s minerals can power a new era of prosperity

With the world shifting toward clean energy, Africa stands at a crossroads. The continent is no longer content exporting raw materials at a fraction of their value. Instead, leaders in Abidjan are pushing for a new model: one where critical minerals fuel industrialization, job creation, and sustainable development across the continent.

By investing in local processing, resilient infrastructure, and regional cooperation, Africa aims to capture more of the value chain—ensuring that its mineral wealth translates into lasting prosperity for its people.