Africa’s minerals indispensable for clean global economy, Valterra Platinum highlights
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Africa's minerals are indispensable for a clean economy and these range from platinum group metals (PGMs), which power hydrogen and fuel cells, to cobalt and manganese, which will drive battery storage, and rare earths, which enable solar and wind technologies.
Valterra Platinum CEO Craig Miller pointed this out during a B20 event covered by Mining Weekly on Friday.
Interestingly, Miller created great B20 and G20 excitement by making use of a platinum-catalysed hydrogen fuel cell electric Toyota Mirai car that gave real-life visibility to the clean economy that this continent's PGMs can bring to the entire world.
"Our opportunity, and I dare say our responsibility, extends far beyond mineral extraction. It is to transform our natural endowment into a foundation for industrial growth that supports technological innovation, as well as shared prosperity across the continent," Miller highlighted at the event where African Continental Free Trade Area secretary general Wamkele Mene noted forcefully that all the signals, from the private sector and public sector, are dictating that "we have to seize this moment".
Transformation beyond extraction, Miller pointed out, required the activation of a set of enablers that together form the architecture of a thriving critical minerals ecosystem.
Needed first was an integrated forward-looking strategy embedded with clear and predictable rules and regulations.
Miller highlighted the next enablers as reliable feedstock, a fit-for-purpose infrastructure, affordable finance, a skilled workforce, and strong market access - the levers that determine whether value is created locally and at scale.
"And lastly, perception enablers, which are investor confidence and community confidence built on trust and transparency," he added.
Market development, "which I know many of us are incredibly passionate about", as well as market access, were singled out by Miller as the two most catalytic changes required to achieve industrial and economic development.
Market development and market access were, he said, certainly what would transform a mine into an industry and a resource into a sustainable future creation.
"Developing regional markets for our critical minerals - and for the technologies that use them - will shift Africa from being a source of raw materials to becoming a hub for refined metals, manufactured components and a clean-tech innovation.
"To do that, one of the things that is required is the support of the African Continental Free Trade Area, which connects 55 economies into a 1.4-billion-person market.
"It enables regional value chains in critical minerals, batteries and clean technologies.
"The African Continental Free Trade Area provides the scale to attract capital, the rules to build investor confidence, and a platform to integrate SMEs and innovators into the global supply chains.
"Too often we speak of investing in minerals as though this is primary about to mine the act of extraction.
"We must instead see that investing in an entire value, a creating ecosystem, yes, mining, but also processing and marketing those minerals to final product is an imperative for the countries where we operate and for Africa's people.
"It requires us to invest in logistics and infrastructure and into institutions which train skilled people, which support professional services and marketing capacity, as well as the sophistication of suppliers, from small businesses to multinational technology firms.
"And critically, we have to enable this through the policy, through regulation, taxation, and a legal environment, legal environment that allows the ecosystem to thrive.
"So, if we can all align on capital, on skills, on policy around these enablers, Africa will not just fuel the world's transiti...
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