American think tank the Atlantic Council has unveiled a three-year program to bolster Africa’s critical mineral value chain and its contribution to the surging global demand for rare minerals.
The program, launched with the establishment of a twelve-person task force comprising U.S, European and African industry representatives, will promote investment opportunities within Africa’s critical minerals sector to global investors. The task force will meet regularly to deliberate on best practices to attract private sector investments into the industry, add value to African markets through job creation and enhance the inclusion of African markets on the global economy.
“Africa has a crucial role to play in supplying critical minerals for the global economy,” adding that “We look forward to convening policymakers and stakeholders at the highest levels to chart a path forward for this vital industry on the African continent,” said Rama Yade, Senior Director of the Atlantic Council Africa Center.
The launch comes amidst a surge in demand for critical minerals driven by the energy transition and the fourth industrial revolution. Africa holds approximately 30% of the world’s rare minerals which are vital for electric vehicles, lithium batteries, cellphones, medical scanners, and military hardware manufacturing.
