Africa is becoming increasingly central to the global race for critical minerals, accounting for 76% of mined cobalt and 41% of bauxite production, with its share of lithium and graphite supply expected to rise sharply by 2030. But S&P Global warns that the continent’s growing mineral weight has yet to translate into comparable industrial power, as China maintains a strong lead in processing and refining while the United States, Europe and other players compete for access to African resources.
