Mineral development expert Dr Femi Salami has highlighted the need for African nations to harness their vast mineral endowments to become a tool for sustainable economic and strategic global power.
Dr Salami, who spoke at different fora during the World Bank/International Monetary Fund (IMF) 2025 Annual Meetings in Washington DC, United States, pointed out that the global race for critical minerals is being driven by three main factors: economic growth, technological advancement, and national security.
According to him, while some countries (especially the developing ones) engage in mineral exploration to boost revenue and strengthen their GDPs, others do so with the goal of advancing their technological prowess and national security/defence system.
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“Economically, countries are seeking to boost revenue and strengthen their GDPs through mineral exploration and exports,” Salami stated. “Technologically, these minerals are essential for producing semiconductors, data centres, and smart devices. From a defence perspective, they are vital for developing missile systems, ammunition, and armoured vehicles.”
Salami, who is the Managing Director of MinePro and Energy Ltd, advised that individual nations must carefully assess and prioritise these drivers based on their unique regional and developmental needs.
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“Most developing countries—particularly in Africa—pursue critical minerals primarily for economic reasons: to enhance government revenue, create jobs, and drive GDP growth.
“In contrast, developed nations such as the United States focus more on securing these resources for national defence and strategic security, rather than direct revenue gains.”
While noting that Africa is richly endowed with vast mineral resources (hosting more than 40 per cent of the world’s critical mineral reserves), Salami emphasised that understanding the nuances is important to guide nations on the continent during negotiations and partnerships with advanced economies on mineral development and investment.
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The mineral expert further stated that Africa’s metallogenic framework and historical data indicate it holds about 76.3 per cent of the world’s platinum group elements (PGE), over 40 per cent of industrial diamonds, and around 50 per cent of global cobalt reserves—a key component in the rapidly growing electric vehicle (EV) battery industry.
While stating that Africa is well-positioned to take centre stage in the global green energy transition due to its abundant natural resources, Salami urged African leaders to build the systems and institutional frameworks necessary to transform its natural endowments into sustainable economic and strategic power.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.
