Introduces Africa's vast mineral resources (cobalt, copper, gold) and their strategic importance for EVs, data centers, and global economies. Asks how Africa should define what is 'critical' for itself versus the Western world.
speaker1
Kwasi Ampofo
Africa must craft its own definition of 'critical' based on three criteria: 1) Can it help us industrialize? 2) Can it create jobs and improve the economy? 3) Can it ensure Africa's industrialization happens in the greenest possible way.
Asks if the industry has caught up to this reality or is still serving export partners.
speaker1
Kwasi Ampofo
Yes, there's a marginal shift. Governments and companies are looking beyond just exporting rocks to value addition, which feeds industrialization. Points to increased cobalt and copper exports as Africa's contribution to the green economy.
Asks about progress in project expansion and where improvements are needed.
speaker1
Kwasi Ampofo
Growth is concentrated, not universal. Ghana has added gold capacity, DRC has doubled cobalt, Zambia aims for 1M tons copper, while South Africa's contribution has declined.
Asks what is contingent for the industry to catch up to global and regional demand - is it coordinated policies?
speaker1
Kwasi Ampofo
Four things are needed: 1) Coordinated policies, 2) One market to create own demand (not rely solely on US), 3) Infrastructure (e.g., Lobito corridor), 4) A diversified capital market for explorers and scaling operations.
Asks about the role of foreign investors/partners (US, China) in the race for critical minerals.
speaker1
Kwasi Ampofo
There's room for everyone, including Africans, China, and the US. The key change from colonial days is that any partnership must be a 'win-win' relationship focused on mutual benefit.