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Africa is rich in critical minerals essential to the global energy transition, but too often, the value chain ends at extraction. In this episode of RMB Africa Focus, journalist Crystal Orderson explores how beneficiation, local processing, and strategic investment can help the continent turn its mineral wealth into lasting prosperity. From Nigeria’s game-changing refinery to the global demand for cobalt, this episode unpacks what it takes to shift Africa from supplier to value creator.
RMB Africa Focus S4: E6 | Africa's Critical Minerals
Bongani Bingwa - Africa Focus S4: E6 | Africa's Critical Minerals
John Perlman - Africa Focus S4: E6 | Africa's Critical Minerals
John Maytham - Africa Focus S4: E6 | Africa's Critical Minerals
Lester Kiewit - Africa Focus S4: E6 | Africa's Critical Minerals
What was discussed
Crystal breaks down Africa’s critical mineral reserves, the untapped opportunity in value-added processing, and how countries like Nigeria are leading the charge towards beneficiation and long-term growth.
From resource-rich to value-rich
Africa holds around 30% of the world’s mineral reserves, including 90% of global platinum group metals and 40% gold. Yet, for decades, the model has remained extractive: exporting raw materials only to buy back refined products at a premium. Minerals account for 70% of Africa’s exports and 28% of GDP, but that dependency underscores the need for change to transform these raw resources into jobs, industries and economic opportunity.
Beneficiation in action: The Dangote example
One standout example is Nigeria’s Dangote Oil Refinery, which came online in 2024 and began processing petrol in September. Previously, Nigeria exported crude oil and imported refined fuels at great cost. Now, the refinery has capacity to process 650,000 barrels a day; creating jobs, lowering fuel costs, and strengthening the country’s downstream sector. Inspired by this model, countries like Angola, Uganda and Mozambique are now investing in their own processing capacity.
Why critical minerals matter
Minerals like cobalt, lithium, manganese and rare earth elements are vital for electric vehicles, renewable energy and tech innovation. The DRC alone supplies 67% of the world’s cobalt, used in everything from EV batteries to energy storage systems. As global demand rises – cobalt demand is projected to increase six-fold by 2040 – making Africa’s role in the green energy transition even more central.
The future is local value-add
Crystal highlights that while Africa has always been resource-rich, the key is now to manage these assets more strategically. Local processing, efficient work-in-progress systems, and better integration across the value chain can help countries retain more economic benefit. With geopolitical interest growing, Africa has a unique opportunity to lead the charge by building the right infrastructure, policy frameworks, and public–private partnerships to support this shift.