Africa, home to over 30% of the world’s critical minerals essential for clean energy technologies, is capitalizing on investments and expertise of Australian mining firms to strengthen its role in the global energy transition.
With investments made by Australian mining companies within Africa’s extractive industry reaching about $60 billion in 2024, the upcoming Critical Minerals Africa Summit will highlight how Australian firms are supporting African markets enhance critical mineral value chain.
The Critical Minerals Africa 2024 summit on November 6 – 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference on November 4 – 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com
Australian companies are expanding their presence across Africa’s mining sector to leverage the continent’s vast untapped resources to meet the surging global demand for critical minerals and maximize profits.
In the lithium sector, firms like Lepidico, Cazaly Resources and Sovereign Metals are leading projects across various African countries including Namibia, Ghana and many more. Notably, Cazaly Resources launched a new drilling campaign at the Kaoko project in Namibia in September 2024, while Atlantic Lithium Limited is advancing Ghana’s first lithium project. In September 2024, Atlantic Lithium was granted an environmental permit for the project by Ghana’s Environmental Protection Agency. Lepidico plans to commence operations at the Karibib project in Namibia by 2026, advancing the country’s status as a critical mineral producer to feed the growing demand for energy storage applications. In December 2023, MetalsGrove Mining acquired six lithium claims in Zimbabwe – Africa’s top lithium producer – as the country advances lithium industry expansion agenda. CMA’s spotlight sessions on lithium will unpack Australia’s contribution towards the growth of Africa’s lithium sector.
In the copper sector, Australian companies are also expanding their footprint. Noronex and South32 signed a $10 million deal in July 2024 to enhance copper exploration and production at the Humpback-Damara Copper Mines in Namibia. In South Africa, Orion Minerals is progressing with the Okiep Copper Project and the Prieska Copper-Zinc Mine, supported by a $2.4 million funding from South African state-owned entity the Industrial Development Corporation. At CMA, a panel on Africa’s copper prospects will explore the growing cooperation between Australia and Africa in copper mining.
Australian firms are also increasingly involved in exploring and producing Africa’s rare earth elements and graphite. In September 2024, Black Rock Mining secured $40 million in financing for its Mahenge graphite project in Tanzania through a partnership with South Korean steel manufacturer POSCO. Additionally, Tanzania signed $667 million worth of deals in 2023 with companies like Peak Rare Earths, Ecograf and Evolution Energy Minerals for critical mineral projects. As Africa’s leading platform for advancing critical mineral opportunities, CMA will highlight the expanding role of Australian firms across the entire energy transition metals value chain.
