Africa holds between 20% and 90% of the world‘s reserves of 11 minerals needed for the energy transition such as the platinum group metals, cobalt, chromium and zircon. This is highlighted by a report by the NGO Natural Resource Governance Institute (Nrgi), which has various offices around the world. In Africa, it is based in Ghana and Tanzania.
Entitled “Triple win: How mining can benefit the Africa’s citizen, their environment and the energy transition”, this report, summarized by the Ecofin agency, states that the continent holds more than 90% of the planet’s reserves of metals of the platinum group (ruthenium, rhodium, palladium, osmium, iridium, platinum and rhenium), used in particular in the manufacture of fuel cells, electrolysers necessary for the production of green hydrogen and automotive catalysts.
Africa is also home to 80% of the world‘s phosphate reserves needed to produce cathodes for LFP (lithium, iron, phosphate) batteries and fertilizers.
It also holds significant shares of the world‘s reserves of nine other minerals essential for the production of energy storage solutions, photovoltaic panels, wind turbine blades and various components of electric vehicles: manganese (55% of world reserves), cobalt (44%) , ilmenite (43%), yttrium (43%), chromium (40%), vanadium (30%), bauxite (22%), graphite (21%) and zircon (20%).
Also according to the report, Africa holds 19 percent of the world‘s reserves of the metals needed to manufacture a standard battery electric vehicle.
The continent is still little explored as it has the lowest known concentration of mineral wealth in the world. Further exploration could then reveal new deposits of critical minerals. But even as things stand now, it is undeniable that the continent is already playing a very important role in achieving global emissions reduction targets.
The Natural Resource Governance Institute, which supports better governance of natural resources to promote sustainable and inclusive development, however specifies that the transition to low-emission energy systems on a global scale by 2050 must not repeat the mistakes that have characterized the extraction mining in Africa in the past.
The countries of the continent and their citizens have not yet benefited enough from their mineral resources. While the mining industry has contributed 8% of total government revenues in the continent’s 15 most mining-dependent countries, it has generated very few opportunities for African companies in the mining segments, supplying services to mining companies and value chains that use minerals. Additionally, mining has increased pollution and deforestation. [Da Redazione InfoAfrica]
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Read our focus on the opportunities to be seized for the continent in implementing a just energy transition: https://www.africaeaffari.it/rivista/svolta-green-ma-a-che-price