Transformational Economic Potential of Extractive Industries: The Case of Simandou Mountains in Guinea and the Lobito Corridor in Southern Africa

A critical component of the transition to net-zero carbon emissions is the replacement of fossil fuels for renewable energies and green technologies. This will require a vast amount of minerals and metals. For instance, wind turbines and energy storage technologies require mineral and metal-intensive inputs. Just to produce solar panels, at least 16 different types of minerals or metals are required. It is widely known that Africa has an abundant untapped potential of critical minerals needed for the deployment of green technologies. Furthermore, the continent possesses a huge renewable energy potential, relevant suitable land for energy development, solar energy, wind power, biomass and hydroelectricity. The continent hosts 30% of the global green mineral reserves.2 It is home to significant reserves of cobalt, manganese, natural graphite, copper, nickel, lithium, and iron.3