Just critical minerals – Moneyweb

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Africa once again finds itself at the epicentre of global minerals demand, which are widely referred to as “critical”.

This occasion calls for an equally constructive response to foster sustainable development, as the “traditional” mining model undertaken by economies that rely on this sector has produced debatable results, largely skewed towards extractivism as opposed to transformative alternatives.

According to the World Bank Group, over $500 billion in new mining investment must be realised to meet the twofold demand in critical minerals by 2040, and Africa bears 30% of the world’s known mineral reserves.

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Copper, lithium, graphite, nickel and rare earth elements are the bedrocks of the green energy, defence, healthcare and automotive sectors, among others.

Alex Benkenstein, programme head of the climate and natural resources programme at the South African Institute of International Affairs, joins The Business of Africa Podcast in this episode to look how the continent is positioning itself to be a well-functioning catchment area with notable outputs.

Alex Benkenstein. Image: Supplied

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He argues that a real global race for access to critical minerals is well under way, making it essential for continental players to be intentional about their interests.

While many contradictions present themselves, Benkenstein argues these are not insurmountable.

Tune in to find out why.

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