Africa holds 30% of world’s critical minerals but earns fraction – Lamola

The G20 Leaders’ Summit has adopted a new global Critical Minerals Framework, with South Africa (SA) saying it’s a chance for Africa to finally take control of the minerals that power the world’s future economy.

South Africa’s international relations minister, Ronald Lamola, says the decision lands at a critical moment: Africa holds 30% of the world’s critical minerals, yet continues to earn only a fraction of their value.

As demand surges for minerals that drive clean energy technologies, batteries and advanced manufacturing, Lamola warns that the continent cannot remain a supplier of cheap raw materials while others cash in.

The G20 declaration recognises that the global economy is undergoing rapid change from the clean-energy transition to digital expansion and that the need for critical minerals will accelerate sharply.

But it also bluntly acknowledges that developing countries remain stuck with under-investment, weak beneficiation, outdated technology and heavy socio-economic and environmental burdens.

The new framework aims to change that. It is a non-binding blueprint, but it pushes for stronger international cooperation, more investment in exploration, transparent supply chains, local processing, and sustainable mining practices.

Crucially, it affirms the sovereign right of mineral-rich countries to benefit first and most from their own resources.

During his opening remarks in Johannesburg, president Cyril Ramaphosa said Africa must move from exporting unprocessed minerals to building industries at home.

“Critical minerals should be a catalyst for development, not another cycle of extraction that leaves producer countries behind,” he said.

The framework also calls for diversifying global mineral sources and trade routes to protect supply chains from geopolitical tensions, trade disputes, pandemics or natural disasters — disruptions that have already rattled global manufacturing.

For long-term growth, the G20 supports higher levels of exploration, more local value addition in developing countries, and strict environmental and labour standards.

It urges governments, investors and local communities to collaborate to unlock the full economic potential of critical minerals.

According to Ramaphosa, Africa has the minerals the world needs, but it will no longer accept being sidelined in the value chain.

The G20’s framework, he says, must mark the start of a fairer and more profitable era for mineral-producing nations. – IOL News

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