The critical-minerals boom has arrived, in case you missed it. Can Africa benefit from this? See also TOP mineral by nation in Africa (infographic). Globally, technology is having an increasing impact on people’s lives, sometimes bringing new obstacles and sometimes opening up opportunities.
The origin of a technology, or technologies, is just as significant as its impact. Any particular technology can be traced back to several sources by looking at its distinct parts and components. Furthermore, it matters to know where such parts and materials are from. Minerals that are essential to modern economies, technologies, lifestyles, and even weaponry include copper, magnesium, cobalt, and lithium. The location of a country’s mineral resources influences its strategic and national security.
Thirty percent of the world’s known important minerals are found in Africa, which puts the region at the centre of discussions. However, as a result of the critical-minerals boom and buzz brought about by the advancement of contemporary technology, African countries do not currently reap the full benefits of this development. In order for that to occur, Africa will require greater funding for its facilities for processing or adding value to minerals found on the continent; this funding might provide the much-needed push to growth.
Although there are abundant essential mineral reserves in Africa, the processing and refining industries that give the minerals more value are not present in the continent. Although Africa can process and refine some minerals, significant value-adding measures are still lacking in the industry as a whole. To put it bluntly, the critical-mineral boom that comes with mineral extraction will only benefit Africa. It is still unable to take significant steps towards the long-awaited development of value chain upgrading and investment in the continent.
