As demand for critical minerals continues to rise rapidly, and companies and global governments seek to reduce the risks associated with an overwhelming reliance on China, African nations will have a major role to play in building more secure and resilient mineral supply chains, argues TechMet chairperson and CEO Brian Menell.

Menell will participate in the Investing in African Mining Indaba session titled: ‘Who will benefit from the geopolitical scramble for critical minerals in Africa?’, on February 10 from 11:00 to 11:45, at the Ngorongoro Crater Stage.

Highlighting the importance of this year’s Mining Indaba theme Stronger together: Progress through partnerships, Menell says that through partnerships with governments, sovereign lenders, co-investors and original-equipment manufacturers, TechMet aims to create “win-win outcomes” for all parties, securing critical mineral supply chains while supporting economic growth and industrial development in resource-rich countries.

“The most effective partnerships will be those that leverage strong government leadership and investment with experienced industry partners. African nations that create enabling conditions for project development, and western governments’ funding and political support to derisk investment, will be vital to strengthening Africa’s role in global critical minerals supply chains, which are essential to the defence sector, AI, robotics and data- centres, as well as batteries and transportation,” continues Menell.

Partnership Strategy

While supply security is critical for national security and industrial competitiveness, building projects that adhere to the highest standards is the only way to ensure long-term success, says Menell.

He adds that strategic partnerships with TechMet and other western-aligned investors offer a way to leverage mineral wealth for long-term economic growth, continued investment and expert development of a strategically important sector over time, as well as access to global markets.

TechMet believes that, increasingly, government funding from the US, Europe and other western-aligned countries will be needed, both at project level and in support of the physical and regulatory infrastructure required to build a successful critical minerals sector over the long term.

“TechMet is committed to supporting economic growth and employment and to delivering lasting value to the communities in which we operate. Our three rounds of equity investment from the US International Development Finance Corporation require us to adhere to the highest governance and transparency standards and we view these standards as a competitive advantage, not a constraint,” says Menell.