Accra: Africa must stop shipping raw minerals overseas and begin building industries that create jobs, retain wealth, and drive industrialization at home, Nigeria's Minister of Solid Minerals Development, Oladele Alake, has said. Speaking at the 2026 West African Mining and Power Expo (WAMPEX) opening in Accra, Alake argued that the continent risks missing out on economic benefits from the global energy transition if it remains primarily an exporter of unprocessed mineral resources.
According to Ghana Web, Alake's comments come as global demand for critical minerals such as lithium, rare earths, manganese, and bauxite continues to rise, driven by growing investment in electric vehicles, battery storage systems, and renewable energy technologies. He emphasized the need for Africa to transition from exporting raw minerals to exporting value-added products, industrial inputs, technology components, and refined materials that create jobs and increase domestic revenue retention.
Alake highlighted the potential for Africa to reposition itself within global supply chains by developing local processing, refining, and manufacturing industries centered on its mineral wealth. He pointed out that Nigeria is pursuing reforms aimed at shifting its mining sector from a traditional 'pit-to-port' model to a 'mine-to-market' framework prioritizing beneficiation, local processing, and downstream industrial development.
The minister also stressed the importance of access to reliable and sustainable power for the future competitiveness of Africa's mineral sector. He noted that as global industries pursue decarbonization, Africa has an opportunity to build mining systems powered increasingly by cleaner energy sources while leveraging critical minerals to support the global energy transition.
Alake called for stronger regional cooperation, emphasizing the need for collaboration in infrastructure development, mineral value chains, energy connectivity, trade facilitation, research and innovation, capacity building, and investment promotion. The conference, organized by DMG Events, the Ghana Chamber of Mines, and Events and Projects International Ltd. (EPI), brought together policymakers, mining executives, investors, service providers, and development partners to discuss critical minerals, energy security, value addition, and sustainable industrial growth across the region.
Echoing the call for greater value addition, Dr. Kenneth Ashigbey, CEO of the Ghana Chamber of Mines, stated that the future of mining in West Africa will be determined by the ability of countries to process minerals, develop supply chains, and provide reliable power for industrial growth. He highlighted the importance of policy certainty, regulatory clarity, and stable operating environments to attract investment.
Dr. Ashigbey reiterated assurances by the Minister for Lands and Natural Resources that mining lease matters will be handled on a case-by-case basis, and nationalization of mines is not government policy. He emphasized Ghana's commitment to maintaining a stable, predictable, and investor-friendly mining environment, reinforcing the government's commitment to working with investors with a win-win mindset.