The Critical Minerals Africa (CMA) 2024 Summit, taking place from November 6 to 7 in Cape Town, will be discussing policy frameworks, regulatory reforms, and best practices to help African critical mineral producers attract investments and meet global demand.
The CMA ministerial panel will further unpack the role policy plays in turning ambition into action. The panel will connect African projects with global investors, providing insights into attractive policies, national objectives, and strategic regulatory practices.
Africa-focused investment platform Energy Capital and Power reports that the critical minerals global demand is forecast to increase threefold by 2040.
Energy Capital and Power says the increase in demand highlights an opportunity for African producers to increase output and the development of untapped mineral deposits.
From 31 May 2024, Tanzania will end the export of unprocessed lithium, as the strategic policy aims to attract investments across the midstream sector in a bid to add value to Tanzania’s lithium resources.
Similar policies have also been implemented in Zimbabwe, Mali, and Ghana, and have led to the development of infrastructure across the mining value chain, according to Energy Capital and Power.
In Zimbabwe, more than $1.2 billion in new investments in its lithium industry has been attracted between 2021 and 2023.
Meanwhile, in Ghana, Australian lithium explorer Atlantic Lithium (ASX:A11) announced a $185 million investment into a lithium processing plant at the Ewoyaa Lithium Project in 2023.
Further, China’s Ganfeng Lithium increased its stake in phase one of the Goulamina Lithium Project in Mali. The project will be starting production this year.
Energy Capital and Power notes that implementing regulations has also streamlined investments in African minerals, as it enhances investors’ certainty and clarifies contractual terms for foreign companies.
Policies such as Zambia’s Mineral Regulations Commission Bill of 2023 and Angola’s Privatization Program, have improved the enabling environment for investment and are poised to attract a fresh slate of regional and global mineral companies.
Energy Capital and Power organises the CMA, which is one of the largest gatherings of critical mineral stakeholders in Africa. The event positions Africa as a primate investment destination for critical minerals.
Write to Aaliyah Rogan at Mining.com.au
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