Minerals and the Energy Transition: Strategies and investment prospects for Africa, hosted by African Development Bank

Africa’s significant green minerals including lithium, cobalt, nickel, manganese and Rare Earth Elements are part of the core enablers of the transport revolution towards low-carbon economic development. The growing demand for electric vehicles and battery storage facilities is driving the demand for these minerals, especially Lithium and Cobalt. This has pushed their processed product prices to astronomical levels and could be a game changer in the economic development of countries endowed with deposits of these minerals. For example, lithium carbonate prices have increased over 10x since 2021. Also, the demand for battery and technology minerals is estimated to increase 500% by 2050 to meet the growing demand for clean energy technologies.

For Africa to seize opportunities in the battery and EV sector, this will require funding both in the backward (exploration, mining, services) and forward (e.g., battery and EV manufacturing) linkages development. And this is far beyond what public resources could provide. Private sector, particularly African private sector, investments will be essential for the continent to climb up the ladder in these important value chains.

This side event seeks to identify and analyse the key success factors that will enable Africa strategise to attract investment into the BEV sector towards optimising benefits from the value chain.

Tuesday 07 February 14:00 - 16:00 Level 1 Stage

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Add to calendar 02/07/2023 14:00 02/07/2023 16:00 Minerals and the Energy Transition: Strategies and investment prospects for Africa, hosted by African Development Bank Africa’s significant green minerals including lithium, cobalt, nickel, manganese and Rare Earth Elements are part of the core enablers of the transport revolution towards low-carbon economic development. The growing demand for electric vehicles and battery storage facilities is driving the demand for these minerals, especially Lithium and Cobalt. This has pushed their processed product prices to astronomical levels and could be a game changer in the economic development of countries endowed with deposits of these minerals. For example, lithium carbonate prices have increased over 10x since 2021. Also, the demand for battery and technology minerals is estimated to increase 500% by 2050 to meet the growing demand for clean energy technologies.

For Africa to seize opportunities in the battery and EV sector, this will require funding both in the backward (exploration, mining, services) and forward (e.g., battery and EV manufacturing) linkages development. And this is far beyond what public resources could provide. Private sector, particularly African private sector, investments will be essential for the continent to climb up the ladder in these important value chains.

This side event seeks to identify and analyse the key success factors that will enable Africa strategise to attract investment into the BEV sector towards optimising benefits from the value chain. Level 1 Stage Europe/London