A new initiative, the Critical Minerals Africa Group (CMAG), was officially launched by global leaders in the critical minerals industry. The group’s mission is to build stronger relationships between Africa and global markets, empower businesses operating in Africa’s critical minerals sector and unlock the continent’s full potential in the global supply chain.
Sub-Saharan Africa is home to approximately 30% of the world’s proven critical mineral reserves, including vital resources such as cobalt, nickel, and lithium. As the world’s demand for green technologies rises, driven by a shift toward renewable energy, the International Energy Agency (IEA) predicts that demand for these minerals will skyrocket—nickel demand is expected to double, cobalt will triple, and lithium demand could increase tenfold. According to the International Monetary Fund (IMF), increased revenues from critical minerals could boost Sub-Saharan Africa’s GDP by 12% or more by 2050, provided the industry is harnessed effectively.
However, despite its critical role in the global supply of these materials, African policymakers, business leaders, and citizens have historically struggled to influence key global discussions around policy, market access, and supply chains. Global businesses eager to tap into Africa’s resources also face barriers, such as a lack of established relationships on the continent and limited local knowledge. CMAG aims to break down these barriers by facilitating deeper connections between Africa and international markets, helping to create resilient and diversified critical minerals supply chains that deliver economic benefits to African communities.
In addition to fostering relationships, CMAG will work with governments and industry stakeholders to create more enabling business environments, promote sustainable growth, support the localization of benefits, and contribute to the development of green value chains. By acting as a bridge between the private and public sectors, CMAG hopes to improve interconnectivity between Africa and Western markets, enhancing both economic development and sustainability.
The CMAG team comprises global industry leaders with a proven track record in delivering results and influencing policy. The group will provide members with access to funding and networking opportunities, advocate on their behalf in discussions with governments and regulators, and offer branding and messaging support to position African businesses as thought leaders in the critical minerals sector.
Veronica Bolton Smith, CEO of CMAG, said, “I am excited to be part of a world-class team focused on fostering deeper relationships between Africa and global markets. Our goal is to put Africa at the heart of international discussions surrounding critical minerals, which are increasingly vital to the global economy. Africa has a tremendous opportunity to become a global leader in this industry, which can create substantial benefits for communities across the continent. At the same time, international firms have a unique chance to expand their presence in Africa and capitalize on the continent’s enormous growth potential.”
Through its efforts, CMAG aims to empower both African and international stakeholders with the tools, knowledge, and relationships needed to succeed in the rapidly growing critical minerals sector. The group’s work will be key to ensuring that Africa can unlock the full value of its vast mineral resources while driving economic development and sustainability across the continent.
