In an effort to foster deeper relationships between Africa and global markets, global leaders in the critical minerals industry have launched the Critical Minerals Africa Group (CMAG), empowering companies operating in Africa’s critical minerals sectors to unlock Africa’s related commodities potential.

CMAG’s mission is to foster deeper relationships between Africa and global markets, enabling the creation of resilient and diversified critical minerals supply chains that benefit the communities in which they are extracted, as well as to accelerate economic development through the capture of value-adding activities.

CMAG will also work with industries and governments to help remove barriers to market entry across sub-Saharan Africa, create more enabling business environments, promote sustainable growth and localisation of benefits, and support the creation of green value chains on the continent.

CMAG will act as a bridge between the private and public sectors while enabling greater interconnectivity with Western markets.

The CMAG team, which includes global leaders in the critical minerals industry with a track record of delivering results and tangibly influencing policy, will add value by offering members access to funding and networking opportunities.

It will also advocate for CMAG members in discussions with governments, regulators and other stakeholders, as well as provide messaging and branding support to help members position themselves as global industry thought leaders.

“I am delighted to be part of a world-class team determined to foster deeper relationships between Africa and global markets and put Africa at the heart of international discussions surrounding critical minerals and associated supply chains,” states CMAG CEO Veronica Bolton.

Key Source of Critical Minerals

Sub-Saharan Africa is believed to be home to about 30% of the volume of proven critical minerals reserves globally, the CMAG reports.

As markets around the world place an ever greater emphasis on green technology, Paris-based intergovernmental energy organisation International Energy Agency (IEA) predicts that demand for nickel will double, demand for cobalt will triple and demand for lithium will rise tenfold.

If harnessed properly, the CMAG points to estimates by international financial institution the International Monetary Fund, that increased commodity revenues alone could increase sub-Saharan Africa’s GDP by 12%, or more, by 2050.

Despite Africa’s central role in the global critical minerals industry, the CMAG notes that African policymakers, business leaders and citizens struggle to influence vital discussions around policy and supply chains.

Global businesses keen to seize the opportunities presented by Africa’s critical minerals also face high barriers to entry owing to a lack of relationships on the continent and limited local knowledge.

However, Bolton elaborates that there is a significant opportunity for African businesses and governments to become global leaders in an industry which is of ever-increasing significance to the world economy, something that would be to the benefit of communities across the continent.

“There is an equally large opportunity for international firms to ramp up their exposure to African markets and capitalise on the enormous growth potential Africa offers.”

Bolton concludes that CMAG has been launched to empower these stakeholders with the tools, knowledge and relationships that they need to succeed.

The CMAG is committed to giving Africa, and the companies operating within the African critical minerals ecosystem, a seat at the table when it comes to discussions around supply chains and shaping policy. The association is an advocacy group that seeks to foster deeper relationships between Africa and global markets and put Africa at the heart of international discussions surrounding critical minerals and associated supply chains.