Africa’s largest integrated energy company, Aiteo, is partnering with The Atlantic Council’s Africa Center, a leading think tank on African affairs, to launch a pioneering three-year program to focus on the continent’s critical minerals.
The program, which was announced at the Mining Indaba, Africa’s premier mining event, aims to enhance the role of African minerals in the global supply chains of the 21st century, especially in sectors like electric vehicles, lithium batteries, cellphones, medical scanners, and military equipment.
Africa holds 30 percent of the global reserves of critical minerals, such as cobalt, lithium, rare earths, and uranium, which are essential for the development of clean energy, digital technologies, and advanced manufacturing. However, the continent faces many challenges in harnessing its mineral wealth, such as inadequate infrastructure, lack of investment, environmental and social risks, and geopolitical competition.
To address these challenges, the program will establish a task force dedicated to critical minerals, consisting of 12 members from the United States, Europe, and Africa, including representatives from the financial sector, development agencies, and governments. The task force will meet regularly in Washington, D.C., to discuss the contribution of African minerals to critical supply chains, methods for increasing the participation of African nations and businesses, and strategies for engaging the private sector.
The task force will also produce policy recommendations and investment strategies to bridge supply chain gaps and promote solutions grounded in proven policy and investment approaches. Moreover, it will offer policy guidance to foreign investors on Africa’s business landscape and foster advocacy through thought leadership on policies, regulations, incentives, property rights, local processing and value chains, regional collaboration, innovation, and technology frameworks. The program will also encompass policy research and strategic analysis.
Rama Yade, the senior director of the Atlantic Council’s Africa Center, stated, “Africa plays a pivotal role in the global economy’s supply of critical minerals. We are eager to bring together policymakers and key stakeholders at the highest level to develop a strategy for this essential industry in Africa.”
Aiteo, founded by African billionaire Benedict Peters, is Africa’s largest privately-owned integrated energy company, operating in West and Southern Africa. Aiteo’s sister company, Bravura Holdings, is Africa’s largest privately owned vertically integrated mining company and is developing lithium, uranium, and other critical minerals in countries throughout the continent, including Ghana, Democratic Republic of Congo, Zambia, Nigeria, Zimbabwe, Namibia, Mozambique, Cote d’Ivoire, Sierra Leone, Guinea Bissau, Libya, Tanzania, and South Africa.
Benedict Peters, the founder and executive vice chairman of Aiteo, said, “We are proud to support this initiative, which aligns with our vision of creating value and prosperity for Africa through our investments in energy and mining. We believe that Africa’s critical minerals have the potential to transform the continent’s economic and social development, as well as contribute to the global transition to a low-carbon and digital future.”
The program is expected to generate significant interest and impact among the stakeholders and decision-makers involved in the critical minerals sector, both within and outside Africa. It will also raise awareness and understanding of the opportunities and challenges facing Africa’s critical minerals industry, and highlight the importance of fostering sustainable and inclusive development in the continent.
