Alake Wants Africa To Control Its Mineral Resources

Minister of Solid Minerals Development, Dr. Dele Alake, has called on African countries to take full control of their mineral resources through local value addition, regional cooperation and data sovereignty to unlock sustainable economic growth across the continent.

Alake made the call at the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation organised by the African Development Bank (AfDB) in Abidjan, Côte d’Ivoire.

Addressing ministers from more than 20 mineral-producing African countries, the minister said Africa must move beyond exporting raw minerals and focus on processing its mineral resources locally to create jobs, industrialise its economies and retain more value from its natural wealth.

He said African countries would derive greater benefits by working together rather than pursuing isolated national strategies.

The minister, who is the pioneer Chairman of the Africa Mineral Strategy Group (AMSG), also called for Africa to take ownership of the systems used to evaluate and report its mineral resources.

According to him, the continent should adopt the Pan African Resource Reporting Code (PARC), developed by the Africa Minerals Development Centre, instead of relying solely on the Australia-based Joint Ore Reserves Committee (JORC) reporting standard.

Alake also proposed the establishment of a West African minerals processing corridor stretching from Lagos to Dakar to enable countries share infrastructure, reduce costs, promote value addition and strengthen regional trade.

He noted that intra-African trade remains significantly low and urged governments to deepen regional integration to maximise the continent’s critical mineral potential.

In his remarks, President of the African Development Bank, Dr. Sidi Ould Tah, said Africa’s abundant mineral resources have not translated into the expected level of economic prosperity because of weak value addition, limited financing and inadequate investment.

He stressed the need for African countries to transform their natural resources into engines of industrial growth and job creation through stronger partnerships and increased investment in mineral value chains.

Dr. Tah reaffirmed the Bank’s commitment to supporting African countries with financing, technical expertise and investment mobilisation to accelerate mineral beneficiation and industrial development.

The meeting ended with the adoption of the Abidjan Declaration, which commits African countries to deepen cooperation on critical minerals development, promote regional value chains, strengthen infrastructure and improve access to financing for strategic mining projects.

Under the declaration, the African Development Bank pledged to deploy its financial instruments and technical expertise to de-risk mining investments, support bankable projects and mobilise public and private capital for Africa’s minerals sector.

The forum brought together ministers responsible for mining, energy, industry and natural resources, alongside representatives of AfDB, Afreximbank, the United States Export-Import Bank and leading international mining companies from Germany, Canada and the United States.

Georgina Humphrey, Edited By Grace Namiji