This continent challenges global mining: 'We are witnessing strong geopolitical tensions driven by increased competition'
Africa, holding 30% of the world's critical minerals, seeks to impose its conditions in the global mining landscape amidst rising geopolitical tensions.
Africa is positioning itself as a significant player in the global geopolitical arena due to its substantial reserves of critical minerals, which account for 30% of the global supply. This mineral wealth has garnered the attention of major world powers such as China, the United States, and various European nations, all of whom are eager to secure stable supply chains. In light of this increased competition for resources, African countries are determined to assert their conditions and ensure that the benefits of their mineral wealth are directed toward local industrialization and development.
South Africa's Minister of Mineral Resources and Petroleum, Gwede Mantashe, emphasized the current geopolitical tensions resulting from heightened competition among nations for Africa's resources. He underscored the importance of collaboration among African nations to regulate supply and decrease the price-setting power of global commodities. This reflects a broader trend of African nations striving for greater control over their resources and a more significant role in international negotiations concerning mineral extraction and trade.
Furthermore, the position of various African nations is critical as they seek to balance foreign interests with local benefits. Louis Watum, the Minister of Mines for the Democratic Republic of the Congo, also highlighted the need for African nations to work together to effectively manage their mineral resources. Overall, the article illustrates Africa's growing assertiveness in the global mining sector at a time when the demand for critical minerals is surging, thereby reshaping international economic relations.