From raw materials to refined returns

When it comes to stepping up the value chain in Africa, the continent’s downward exploration trend underscores structural issues

Africa holds the minerals the world needs for the energy transition but not the profits. Yet how do you break this cycle that demands bold policies, smart investment and homegrown beneficiation?

Africa holds over 30% of the world’s mineral reserves vital for clean energy technologies. Yet, despite this abundance, mining investment has stayed modest. From 2015 to 2024, exploration spending averaged $470 million a year, with Africa’s global share falling from 12.6% to under 9%.

The continent also captures less than 1% of the value from processing and manufacturing its minerals.

As outlined in the Stepping Up the Value Chain in Africa 2025 report by the International Energy Agency (IEA), the continent’s downward exploration trend underscores structural issues, including limited access to risk capital, underinvestment in geoscience, and uncertain regulatory environments.

However, there are promising signs of renewal…

Cover photo:  mikkiorso©123rf