Somalilandsun: Africa’s minerals sector should seize the opportunities presented by the global transition towards green energy, experts discussed during a virtual workshop on the future of mining in Africa post-COVID-19.
The webinar, organized by the African Natural Resources Centre (ANRC) and the African Legal Support Facility (ALSF), both entities of the African Development Bank, in partnership with Nordic Africa Institute, was part of a series that is examining the impact of the pandemic on Africa’s extractives sector, particularly minerals, oil and gas.
The ongoing global transition towards green energy and rapid decarbonisation holds significant potential for Africa’s extractives sector, the participants heard.
One opportunity lies in growing demand globally for lithium, which is used in batteries for electric vehicles, smartphones and off-grid energy storage.
“Africa is strategically positioned to derive maximum benefits from the growing global lithium-ion batteries (LIB) industry,” said Dr. Cosmas Ochieng, Director of the ANRC, who moderated the event on 9 December.
In 2018, Zimbabwe and Namibia were among the top 10 global producers of lithium, with Zimbabwe alone holding 11 million tonnes of lithium ore in its Bikita mines in the country’s Masvingo region. African leaders must step up and include battery production as a continent-wide development priority, participants urged.
Among other themes discussed by the participants was the Africa Mining Vision (AMV), a policy framework created by the African Union in 2009 to ensure Africa utilizes its mineral resources strategically for broad-based, inclusive development.
“The realization of the Vision hinges on strong political will and a commitment to developing strong capable mineral management systems and institutions. It requires an astute understanding of Africa’s relative advantages in the global mineral value chain,” said
Dr. Antonio Pedro, Director of the Economic Commission for Africa’s sub-regional office for Central Africa.
In a presentation on drivers of the sector in the post-pandemic period, Dr. Kwasi Ampofo, metals analyst at Bloomberg New Energy Finance, said “adoption of renewable energy is rising in the mining sector. Investments in renewable energy have increased significantly in the last ten years,” he said.
Ampofo urged African mining companies to take a lead in decarbonization of their operations and the transition to clean energy to attract ‘green’ funds.
About ANRC and ALSF
The African Natural Resources Centre (ANRC) is a non-lending department of the African Development Bank with a mandate to assist African countries to maximize development outcomes from natural resources.
The African Legal Support Facility (ALSF) is a public international institution hosted by the African Development Bank Group. The Facility provides legal advice and technical assistance to African countries in the negotiation of complex commercial transactions, creditor litigation and other related sovereign transactions.
Contact: Olufemi Terry, Communication and External Relations Department, African Development Bank, email : email@example.com
About the African Development Bank Group
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.afdb.org