The global race for critical minerals is entering a new phase.

No longer defined solely by access to mineral reserves, it is increasingly being shaped by industrial policy, geopolitical competition and the race to build resilient supply chains for electric vehicles, renewable energy technologies and advanced manufacturing.

For Africa, home to some of the world's richest deposits of lithium, cobalt, manganese, graphite, platinum group metals and rare earth elements, the opportunity extends far beyond extraction.

The continent's next competitive advantage will not be measured by the volume of minerals it exports, but by its ability to transform those resources into processing industries, manufacturing capacity and long-term economic growth.

Capturing that value requires a fundamental shift in thinking. Mining and manufacturing can no longer operate as separate industries. They must become part of the same industrial strategy, connecting mineral production with long-term demand, regional supply chains and value-added manufacturing.

Victoria Backhaus-Jerling, Chief Executive Officer of the African Association of Automotive Manufacturers (AAAM) and a member of the Mining Indaba Steering Committee, believes that transition begins by changing the question Africa asks about its mineral wealth.

"Africa has spent decades discussing how to extract more minerals. The next strategic question is how those minerals can power industrialisation by creating demand for processing, manufacturing and value addition on the continent.

Industrial buyers provide the predictable long-term demand that justifies investment in refining, processing and manufacturing. If we want Africa to capture more value from its mineral wealth, mining and manufacturing can no longer be planned separately."

Southern Africa is uniquely positioned to lead this transition. The region combines globally significant critical mineral reserves with established automotive manufacturing hubs, growing industrial capability and the African Continental Free Trade Area (AfCFTA), creating the conditions for integrated regional value chains that connect mining with manufacturing.

The recent approval of the automotive Rules of Origin under AfCFTA has added further momentum by giving investors greater certainty to build manufacturing capacity across multiple African markets while encouraging regional sourcing and value addition.

As Backhaus-Jerling explains:

"One country may mine lithium, another refines battery materials, another manufacture components and another assemble vehicles. The Rules of Origin help make that model commercially viable by encouraging regional sourcing and creating the conditions for African industries to supply one another."

At the same time, global manufacturers are reconfiguring supply chains in response to the energy transition, geopolitical uncertainty and growing demand for responsibly sourced critical minerals. That presents Africa with a significant opportunity to attract investment into mineral processing, battery materials, automotive manufacturing and advanced industrial production.

But mineral reserves alone will not determine where that investment flows.

Today's investors are looking for policy certainty, competitive logistics, reliable energy, skilled labour, supplier development and access to regional markets.

"Africa's competitive advantage should not simply be that we have the minerals. It should be that manufacturers can source critical inputs, build products competitively and serve a continental market of more than 1.4 billion people. That is a far stronger investment proposition than exporting raw commodities."

Mining Indaba has long recognised the importance of bringing together mining companies, downstream industrial buyers, manufacturers, governments, investors and financiers to strengthen collaboration across the mining value chain.

At Mining Indaba 2027, under the theme Stronger Together: Partnerships in Practice, that commitment is being strengthened by creating greater opportunities for stakeholders to develop commercially viable partnerships that accelerate industrialisation, unlock investment and strengthen regional value chains across Africa.

Laura Nicholson, Industry Director at Mining Indaba, says the industry is entering a new phase where success will depend less on conversation and more on execution.

"Mining Indaba has always recognised the importance of bringing together the entire mining value chain. Today, the conversation is no longer simply about connecting stakeholders. It is about enabling practical partnerships that translate into investment, industrial development and shared value across Africa.

As global competition for critical minerals intensifies, Africa has a once-in-a-generation opportunity to strengthen regional value chains, attract downstream investment and accelerate industrialisation. That is exactly what Stronger Together: Partnerships in Practice represents."

Turning that opportunity into reality will require coordinated action across the public and private sectors.

Governments must create stable policy environments. Mining companies provide resource security. Manufacturers generate industrial demand. Financial institutions mobilise capital, while development partners strengthen capability, skills and innovation.

Backhaus-Jerling believes those partnerships need to begin much earlier in the investment cycle.

"Mining investment decisions should increasingly consider future industrial demand, while manufacturing strategies should be aligned with regional mineral development. That level of coordination is what transforms resource wealth into industrial growth."

Ultimately, Africa's long-term competitiveness will not be measured by the tonnes of minerals shipped from its ports, but by the industries, technologies and skilled jobs those resources help create.

Backhaus-Jerling says success means repositioning Southern Africa as a globally competitive manufacturing hub rather than simply a supplier of critical minerals.

"Success is when Southern Africa is recognised not simply as a source of critical minerals, but as a globally competitive manufacturing region producing batteries, automotive components, electric vehicles and other advanced industrial products.

That means higher-value exports, stronger regional supply chains, greater technology transfer, more skilled employment and increased resilience against global supply chain disruptions.

AfCFTA provides the framework. The Rules of Origin provide the mechanism. Partnerships between mining and manufacturing provide the catalyst for turning Africa's mineral wealth into sustainable industrial growth.

Africa's competitive advantage should not end at the mine gate; it should extend all the way to the factory floor."

As Africa enters the next chapter of the global critical minerals economy, its greatest opportunity lies not simply in supplying the world with the resources it needs, but in building the industries that will define the future.

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