Demand for energy transition metals like lithium, cobalt and copper is projected to quadruple by 2030, driven by the rapid growth of clean energy technologies, particularly electric vehicles. In response, Africa is enhancing the development and monetization of its critical minerals, leading to the upcoming Critical Minerals Africa (CMA) 2024 summit. This event will feature a dedicated panel discussion focusing on trends in the continent’s cobalt, copper and lithium sectors.
The session, titled “Energy Transition Technologies and Critical Materials: Spotlight on Lithium, Copper and Cobalt,” will include insights from industry experts from Project Blue, exploring Africa’s evolving value chain in critical minerals.
Scheduled for November 6-7, 2024, in Cape Town, the summit aims to position Africa as a leading investment destination for critical minerals, coinciding with the African Energy Week conference. Participants will gain access to a comprehensive network of energy, mining, and finance leaders.
Africa holds the world’s largest cobalt reserves, with the Democratic Republic of the Congo (DRC) alone possessing 6 million metric tons. Renewed investments are flowing into the cobalt sector, with Glencore and Chinese firms making significant commitments. Copper production is also on the rise, with the DRC and Zambia accelerating efforts to enhance their market shares.
In the lithium market, Africa’s share is expected to increase from 4% to 10% by 2024, spurred by new investments, particularly in Zimbabwe, Zambia, and Ghana. The CMA 2024 summit will spotlight these lucrative opportunities and emphasize the importance of collaboration with global investors to strengthen the continent’s supply chain.
