Feb 17 β€’ 07:34 UTC πŸ‡ΆπŸ‡¦ Qatar Al Jazeera

Africa's Minerals: Can They Transform from a Curse to a Key for Development?

The article discusses Africa's vast mineral wealth and its potential to drive development amid challenges related to national sovereignty and social justice.

The article highlights Africa's strategic role in the global race towards technological transformation and clean energy, attributed to its vast reserves of minerals. With an estimated 30% of the world's mineral resources, Africa is home to valuable minerals including gold, diamonds, cobalt, lithium, copper, and uranium. However, questions arise about national sovereignty and social justice, especially concerning the continent's reliance on exporting raw materials without value addition.

According to the African Consulting Center and reported by Africa Focus, the mining sector has become a crucial part of several countries' economies. For instance, mineral exports constitute over 70% of total national revenues in countries like the Democratic Republic of the Congo and Zambia, while South Africa relies heavily on gold and platinum for foreign currency. This dependence raises concerns about the sustainability of such economic models, particularly in light of global environmental goals and the need for domestic processing of minerals.

Despite the global momentum surrounding Africa's minerals, the Africa Focus report characterizes the sector as a "double-edged sword." It generates significant revenues while also presenting social and economic challenges that must be addressed. As Africa navigates its role in the global economy, it faces the challenge of transforming its mineral wealth into a vehicle for sustainable development rather than a source of ongoing exploitation.

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