Research: How can Africa make the most of its transition minerals?
The latest research from PWYP suggests that Africa could boost its GDP by at least $24 billion a year and create 2.3 million jobs by introducing manufacturing and trade policies that enable it to extract more value from the booming trade in so-called ‘transition minerals’, according to our new research.
Africa is home to more than 40% of minerals like copper, lithium and nickel, used in the production of renewable energy technologies. The Democratic Republic of Congo (DRC) alone holds 60% of the world’s cobalt reserves, a mineral used to make lithium-ion batteries. Demand for such materials is expected to rise exponentially as countries transition to low-carbon economies.
Publish What You Pay’s economic modelling finds that the biggest export opportunities are for processed metals including processed copper ($14bn) and processed platinum group metals ($9bn) and products such as copper wiring and (copper-based) coaxial cable ($5bn).
Read the key findings of the research in a shorter briefing paper here.
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