African Critical Minerals Output Could Reach $2 Trillion by 2050
- IMF report on sub-Saharan region’s revenue from the metals
- Region can reap 12% of copper, cobalt, lithium, nickel output
A conveyor belt moves raw cobalt for processing at a mine in Lubumbashi, the Democratic Republic of Congo.
Photographer: Lucien Kahozi/BloombergThis article is for subscribers only.
Sub-Saharan Africa could produce almost $2 trillion of metals required for the energy transition by 2050, according to the International Monetary Fund.
Global revenue from mining copper, cobalt, lithium and nickel could reach $16 trillion in current dollar terms over the next quarter century under a demand scenario estimated by the International Energy Agency, the IMF said in a paper on Friday. Output from sub-Saharan Africa will account for about 12% of that total, according to the report.