The global resource market is experiencing a sustained surge in demand for crucial minerals, such as gold, lithium, silver, bauxite, uranium, and cobalt. Two key forces are driving this trend: rising geopolitical and economic uncertainties, which are channelling increased investment in hard commodities, and the accelerating technological transition, which demands a significant expansion of mineral production and refinery.
Africa is bound to be deeply affected by current developments. The continent holds approximately 30% of the world’s critical mineral reserves, with individual nations possessing significant shares of specific resources. The global interest in precious minerals (such as gold, platinum, and silver) is paired by a rising demand for critical minerals such as lithium, graphite, cobalt, manganese, and bauxite.
However, this comparative advantage is hindered by a general lack of adequate infrastructure to facilitate more efficient extraction and production of finished goods. Therefore, much of Africa remains locked into exporting raw materials, with relatively limited impact on economic development and diversification given that the added value is generated by the nations that import and process such materials.
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