Sierra Leone Aims for Share of $16 Trillion in Global Mineral Revenues

Sierra Leone has announced its ambition to secure a significant portion of the projected $16 trillion in global mineral revenues over the next 25 years.

Mustapha Turay, Chairman of Sierra Leone’s National Minerals Agency (NMA), highlighted this at the inaugural ministerial conference of the Russia-Africa Partnership Forum.

He noted that Sub-Saharan Africa is positioned to capture over 10% of this revenue due to its vast mineral wealth.

Turay emphasized Africa’s potential for economic transformation, driven by reserves of essential minerals such as copper, nickel, cobalt, and lithium, which are key to advancing clean energy technologies.

With about 30% of the world’s known critical mineral reserves, Sub-Saharan Africa is well-positioned to support the growing demand for sustainable technologies, including electric vehicles and solar power.

The International Energy Agency (IEA) forecasts a tenfold increase in demand for lithium and a two- to threefold increase for nickel and cobalt by 2050.

If managed strategically, Turay believes Africa’s involvement in this transition could lead to a 12% GDP growth in the region by mid-century.

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