Alhassane Haidara

The role of green minerals is at the core of the clean energy transition. Africa boasts of significant green mineral endowments as they serve as critical feedstock for the battery and Electric Vehicle manufacturing value chain. Specifically for cobalt, the DRC is well positioned to take a leadership position in the energy transition industry because it accounts for 70% of the world's cobalt production and over 51% of global reserves. However, despite this huge minerals endowment, the continent is still operating at the primary stage of the battery and electric vehicle value chain estimated  US8.8 trillion by 2025. Africa needs to change this narrative by creating more value on the continent through development of a robust green minerals strategy focusing on resource-driven industrialization and leveraging the AfCFTA. This side event seeks to analyse the success factors for Africa to move up the ladder and optimise benefits from the global battery and EV value chain.

Guinea Alumina Corporation was the recipient of the 2020 “Multilateral Deal of the Year” at PFI Awards in London. For the first time in history, multilateral institutions and international commercial banks participated together in financing a greenfield mining project in Guinea. It raised the profile of Guinea in international financial markets and sets a new benchmark for how Guinean and African projects can be financed and access international capital. Learn how the deal was made from those who were on the frontline.