Letlhokwa George Mpedi serves as Vice-Chancellor and Principal at the University of Johannesburg in South Africa.
In 2024, a group of Australian researchers (Boafo et al.) asked a pertinent question: “The race for critical minerals in Africa: A blessing or another resource curse?” The continent is abundant with natural resources, but this has often been to our detriment. As the African Development Bank (AfDB) referred to it, Africa is faced with the paradox of plenty.
In other words, despite an abundance of natural resources, countries often contend with little to no economic growth, low GDP and worrying developmental metrics. Now, we are seeing greater demand for critical or rare minerals, particularly through the lens of the fourth industrial revolution (4IR) and the just transition, and this paradox emerges once again. Studies suggest that there is a clear boom.
For example, the Critical Minerals Market Review 2023 by the International Energy Agency (IEA) found that between 2017 and 2022, demand for lithium had tripled, cobalt had risen 70%, and nickel had increased 40%. In 2022, the market size of critical minerals had reached $320 billion, with expectations that this figure would double by 2030 and quadruple by 2050.
For the rest of this column: https://www.forbesafrica.com/opinion/op-ed/2025/05/21/expert-speakriches-or-curses-africas-critical-minerals-dilemma/