Harare – His Excellency, President Emmerson Mnangagwa has cautioned that African nations, including Zimbabwe, are facing an increasing threat from powerful global players seeking to control critical minerals through legislative maneuvers.
Speaking during an interactive meeting with editors at State House in the capital yesterday, President Mnangagwa expressed deep concern over this emerging trend, which he described as alarming and necessitating a robust response.
To safeguard Zimbabwe’s mineral wealth from foreign exploitation, the Government has established a new portfolio for a Deputy Mines Minister responsible for Oil and Gas Research and other Strategic Minerals Exploration. This initiative seeks to ensure that the nation’s vast mineral resources directly benefit its people rather than being depleted by external interests. The creation of this position marks a significant step in the Government’s ongoing efforts to protect Zimbabwe’s national interests while promoting sustainable development.
Sub-Saharan Africa is already at the heart of global critical mineral production, with demand for essential minerals expected to surge in the coming decades. According to the International Energy Agency, between 2022 and 2050, demand for nickel is set to double, cobalt to triple, and lithium to rise tenfold. Furthermore, the Regional Economic Outlook report of April 2024 highlighted that sub-Saharan Africa holds approximately 30 percent of the world’s proven critical mineral reserves, presenting a transformative opportunity for the region.
The Democratic Republic of Congo alone accounts for over 70 percent of global cobalt output and holds nearly half of the world’s known reserves. Additionally, South Africa, Gabon, and Ghana collectively contribute to over 60 percent of global manganese production. Zimbabwe, alongside the DRC and Mali, possesses substantial but underexplored lithium reserves. Other countries rich in critical minerals include Guinea, Mozambique, South Africa, and Zambia.
President Mnangagwa’s decision to establish the new Deputy Mines Minister portfolio is a decisive move underscoring his commitment to protecting Zimbabwe’s stake in the critical minerals sector. By taking a proactive stance in managing the country’s mineral resources, the President is sending a strong message to global stakeholders that Zimbabwe will not allow its resources to be exploited unfairly.
This initiative is particularly significant given the prevailing geopolitical landscape, where major global powers are competing for control over critical minerals. Asserting sovereignty over its mineral wealth is a crucial step for Zimbabwe in ensuring that the nation’s resources contribute to economic prosperity and benefit its citizens.
Furthermore, the establishment of the new portfolio aligns with President Mnangagwa’s vision for Zimbabwe’s economic growth. By prioritizing the exploration and development of strategic minerals, the Government is positioning the country to capitalize on the growing global demand for these resources. Africa is home to an abundance of essential minerals required for the energy transition, including copper, cobalt, lithium, and platinum group metals.
Through strategic resource management, Zimbabwe can attract investment, create employment, and drive economic development, ultimately improving the livelihoods of its people. President Mnangagwa’s decision demonstrates his unwavering commitment to ensuring that Zimbabwe’s vast mineral wealth is utilized in the best interest of the nation.
Additionally, by creating this new portfolio, the President is signaling that Zimbabwe is open for business and prepared to engage with international partners under fair and mutually beneficial terms. This move is expected to promote transparency, accountability, and sustainability within the extractive industry, attracting reputable investors who share these principles.
Overall, President Mnangagwa’s initiative represents a significant milestone for Zimbabwe. It underscores his leadership and vision for securing the nation’s mineral wealth, safeguarding national interests, and ensuring long-term economic stability for future generations.
