Africa's Growing Role in the Global Critical Minerals Market
Africa is becoming an indispensable player in the global critical minerals market. Copper, a crucial metal for electric vehicles, electrical networks, data centers, and artificial intelligence technologies, is now attracting a growing share of international investments.
Increasing Investments in Critical Minerals
According to the International Energy Agency's (IEA) World Energy Investment 2026 report, investments in new critical mineral projects in Africa have significantly increased over the past decade, with copper being the primary focus. The report highlights that investments in "greenfield" mining projects, which involve developing new sites without existing infrastructure, have doubled from approximately $3.5 billion in 2016 to over $7 billion in 2024. More than 90% of this growth is attributed to copper.
Key Players and Emerging Markets
The Democratic Republic of Congo and Zambia remain the primary hubs for copper investments, with the Kamoa-Kakula mine, developed by Ivanhoe Mines and Zijin Mining, exemplifying this trend with several billion dollars invested since its launch. Other countries, such as Angola, Botswana, and Namibia, are also gaining traction. Morocco is cited as a key destination for investments in critical minerals in North Africa, confirming the kingdom's growing position in the energy transition value chain.
Implications for Tunisia and the Global Market
Although Tunisia is not mentioned as a primary beneficiary of new mining investments, the country is directly affected by the global transformation. The increasing demand for copper and critical minerals influences international prices for raw materials and equipment used in energy projects. Tunisia's efforts to accelerate its energy transition through solar, wind, and electrical infrastructure development rely heavily on strategic metals like copper. The new geography of investments also presents industrial opportunities, as several African countries attempt to move beyond mining by developing local transformation, refining, and higher-value-added activities.
Challenges and Opportunities
The IEA emphasizes that the primary challenge for African countries is no longer just extracting resources but transforming them locally to create more jobs and revenue. Since 2023, thirteen African countries have implemented export restrictions or bans on certain critical minerals to encourage local transformation. However, investments in refining are progressing much slower than those in extraction, reaching approximately $2.5 billion in 2024. The IEA identifies several obstacles, including lack of electricity, water scarcity, logistical deficiencies, and a shortage of skilled labor.
Conclusion
Africa's growing role in the global critical minerals market presents both opportunities and challenges. As the demand for copper and other critical minerals continues to rise, driven by the energy transition, electrification of economies, and the growth of artificial intelligence, African countries must navigate the complexities of transforming their resources locally to create more value and jobs. With the right investments and policies in place, Africa can capitalize on its strategic position in the global critical minerals market and drive sustainable economic growth.
