Disclaimers 2

Abstract 3

Foreword 4

Acknowledgements 5

Table of contents 6

Executive summary 8

 Africa’s potential to supply minerals, metals and advanced materials remains largely untapped. 8

 Making the most of African countries’ mineral’s endowment 9

 Leveraging continental initiatives and regional cooperation to unlock value addition perspectives. 9

1 Africa’s mining sector: current landscape and future prospects 11

 1.1. Overview of critical mineral resources in Africa 11

 1.2. Trends by mineral 12

 1.3. Challenges facing Africa’s mining and metals sector 14

 1.4. Strategies from African economies 18

 1.5. External engagement 20

2 Making the most of critical mineral resources 27

 2.1. Geological and mineral information systems (GIMS) 27

 2.2. Investing in the National Geological Survey (NGS) 27

 2.3. Legal and institutional framework for contracts and licensing 28

 2.4. Fiscal revenue collection and management 29

 2.5. Linkages, investment and diversification 30

 2.6. Maximising the contribution of artisanal and small-scale mining (ASM) 31

3 Responsible business conduct to support strategic investment 33

 3.1. Persisting challenges are increasingly met with regional responses 33

 3.2. Labour and human rights 33

 3.3. Environmental challenges 34

 3.4. Continental and regional frameworks 35

 3.5. Implementation and verification challenges 35

4 Trade policy, global markets and value chain integration 37

 4.1. Agreements governing trade of African minerals 37

 4.2. Trade restrictions on critical mineral exports imposed by African countries 38

 4.3. Limitations to African participation in global mineral value chains 39

 4.4. Global trade policies: disadvantages to African producers, benefits to global markets 40

5 Conclusions and recommendations 42

 5.1. Main conclusions 42

 5.2. Recommendations 43

References 45

Notes 54

FIGURES

Figure 1. Mineral production by African country by % of world total (2024) 11

Figure 2. Overview of mineral production and reserves in Africa vs other, in 2024 (in % of world total) 15

Figure 3. Africa’s mineral exploration investment vs rest of the world between 2004 and 2024 16

Figure 4. Minerals price development for copper, lithium carbonate, nickel and cobalt between 2015 and 2025 18

Figure 5. Total value exports and imports of raw and semi-processed critical minerals by region between 2005

and 2023 (in USD billions) 21

Figure 6. Regional exports of raw and semi-processed critical minerals by category of energy-relatedtransition minerals between 2005 and 2015 (in USD billions) 21

Figure 7. Relative share of the greenfields exploration budget per commodity over the past 15 years across

Africa 22

Figure 8. Companies present in African mining 24