Africa holds an estimated $29.5 trillion in mine-site mineral value, about 20 per cent of global mineral wealth, yet captures only a fraction of its economic potential, according to a new Africa Finance Corporation (AFC) study.

Of this, $8.6 trillion remains undeveloped due to fragmented geological data, uneven exploration, and limited transparency, which elevate risk and constrain investment.

The report emphasises that industrial processing of minerals into steel, aluminium, batteries, and fertilisers greatly amplifies Africa’s latent value, highlighting the continent’s underutilised potential.

The Compendium of Africa’s Strategic Minerals, launched at Mining Indaba in Cape Town, frames mineral strategy through an African development lens, stressing alignment of production, processing, infrastructure, and long-term domestic demand.

Misalignment with African demand, illustrated by steel and ferro-alloy supply chains, leaves markets exposed to external shocks, such as falling Asian demand impacting cobalt, manganese, and steel production across the continent.

Infrastructure is central to unlocking value, linking raw materials, processing, and regional demand. Investments in power, transport, and industrial land can enable beneficiation, reduce delivered costs, and support low-carbon, traceable supply chains.

The report also highlights Africa’s strategic role in a fragmenting global economy, calling for selective integration into global supply chains for minerals with concentrated processing markets, such as manganese, rare earths, graphite, uranium, and critical alloying inputs, where reliable, value-added production can enhance resilience.

Targeted regional planning, infrastructure coordination, and industrial alignment are key to converting Africa’s mineral wealth into sustainable economic growth.