Key Findings
- 1Global demand for critical minerals used in clean energy technologies will increase 4-6x by 2040 under net-zero scenarios.
- 2Africa holds 30% of known reserves of critical minerals including cobalt (70%), platinum (90%), and manganese (47%).
- 3The DRC alone supplies 73% of the world's cobalt — essential for EV batteries and energy storage systems.
- 4Value-addition through beneficiation could add $12-15 billion annually to African GDP vs. raw ore export.
- 5ESG and supply chain transparency requirements are reshaping procurement — creating both challenges and competitive advantages for African producers.
Sector Overview
Critical minerals — the metals and elements essential for clean energy technologies — have moved from geological curiosity to geopolitical imperative . The Agency identifies over 50 minerals as 'critical', but six dominate the clean energy conversation: lithium, cobalt, nickel, manganese, graphite, and rare earth elements.
The demand trajectory is staggering. A single electric vehicle requires approximately 200 kg of minerals — six times more than an internal combustion engine . A single onshore wind turbine consumes 8-12 tonnes of copper and steel alloys. Grid-scale battery storage systems require tens of thousands of tonnes of lithium and cobalt.
Africa's position in this landscape is unique. The continent holds dominant reserves of several critical minerals — 70% of cobalt (DRC), 90% of platinum group metals (South Africa and Zimbabwe), 47% of manganese (South Africa and Gabon), and significant deposits of lithium (Zimbabwe, DRC), graphite (Mozambique, Tanzania), and rare earths (South Africa, Madagascar) .
Estimated proven and probable reserves, 2024
Top
PGMs · 90
31.6% of total
Bottom
Lithium · 5
1.8% of total
Average
40.7
7 categories
Total
285
Sum of series
| Series | PGMs | Cobalt | Manganese | Chromium | Graphite | Lithium | Rare Earths |
|---|---|---|---|---|---|---|---|
| Value | 90 | 70 | 47 | 44 | 21 | 5 | 8 |
Source: Minerals Council SA & DMRE, Apr 2026
VerifiedKey Trends
**1. Battery Chemistry Evolution** The dominant EV battery chemistry is shifting from NMC (nickel-manganese-cobalt) towards LFP (lithium-iron-phosphate) and sodium-ion alternatives. LFP batteries now represent 40% of global production, up from 6% in 2019 (BloombergNEF, 2025). This shift reduces cobalt demand per vehicle but increases demand for lithium, phosphate, and manganese.
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