OPINION | Africa’s critical minerals: Powering industrialisation

By Thuto Masasa As the global scramble for critical minerals intensifies, conversations about mineral sovereignty are moving to centre stage.

Across Africa, governments are increasingly insisting on a greater say over strategic minerals, including through proposals to give the state a right of pre-emption before these resources are sold.

There are also growing calls for greater local beneficiation, rather than continuing to rely on the export of unprocessed raw minerals.

For decades, Africa has exported raw minerals only to buy back higher-value products manufactured elsewhere.

Much of the continent has therefore remained at the bottom of the value chain, a supplier of resources and a buyer of finished goods.

The global race for critical minerals gives African countries, including South Africa, an opportunity to challenge that model.

This is not a theoretical opportunity.

The United Nations Trade and Development (UNCTAD) reported that strategic sectors — including AI infrastructure, semiconductors, critical minerals and energy-transition technologies — accounted for 44% of global greenfield investment in 2025, up from 16% in 2020.

Africa attracted approximately US$70 billion in foreign direct investment in 2025, its third-highest level since 1990.

Yet UNCTAD also cautions that investment and its benefits remain concentrated in relatively few countries and sectors.

At the same time, African leaders are increasingly calling for critical minerals to become catalysts for industrialisation, local value addition, regional value chains and job creation, particularly for young people and women.

The direction is clear.

The harder question is execution.

It is easy to say Africa should beneficiate its minerals.