The global scramble for critical minerals is heating up, with nations rich in resources like Africa, Canada, and India stepping up their strategic game. Angola, for instance, is making bold moves to shift from a raw mineral exporter to a finished product powerhouse. Paulo Tanganha, National Director of the National Directorate, Ministry of Mineral Resources, Petroleum and Gas, has set the bar high, aiming to make Angola a key exporter of finished mineral products within the next decade and a half. Angola’s strategy involves a significant pivot from its traditional focus on diamonds and iron ore to a diversified portfolio that includes copper and other critical minerals. This shift is not just about changing export products; it’s about building the infrastructure needed to process these minerals domestically. By reinvesting revenue from raw material exports into infrastructure, Angola is setting the stage for a future where its exports are not just raw materials, but value-added products. This move could reshape the global supply chain, making Angola a more significant player in the mineral market and providing a model for other resource-rich countries.
Meanwhile, across the Atlantic, the Mining Association of Canada (MAC) is grappling with the fallout from U.S. tariffs. President and CEO Pierre Gratton has been vocal about the potential harm these tariffs could cause. He argues that the 25% additional charge on Canadian mineral and metal imports is counterintuitive to American national security and economic interests. With over 52% of Canada’s mineral exports, valued at over $80 billion, destined for the U.S., the tariffs could disrupt a critical economic partnership. Gratton’s concerns highlight the delicate balance between national interests and international trade, prompting a closer look at how such policies could ripple through the global mineral supply chain.
South Africa’s approach to its mineral wealth is equally intriguing. The country’s heavy reliance on coal for electricity generation has sparked a contentious debate. Minister of Mineral Resources, Gwede Mantashe, has declared that “King coal is back,” emphasizing coal’s continued importance despite environmental concerns. This stance comes amid legal challenges and international pressure to transition to cleaner energy sources. South Africa’s Just Transition plan, which seeks international support, is now under scrutiny as the country navigates the complex interplay between economic growth and environmental sustainability. This situation underscores the broader global challenge of balancing immediate energy needs with long-term environmental goals.
India, too, is making strategic adjustments to bolster its mining sector. The recent elimination of customs duties on waste and scrap from key minerals like antimony, cobalt, copper, and tungsten is a significant move. Finance Minister Nirmala Sitharaman’s announcement during the 2024 budget presentation signals a push to strengthen the recycling industry and support domestic secondary producers. This policy aligns with India’s broader strategy to secure raw materials essential for energy transition technologies. By reducing reliance on foreign imports and fostering domestic processing capabilities, India is positioning itself as a key player in the global mineral market. These developments collectively illustrate the evolving landscape of critical mineral supply chains, where countries are not just competing for resources but also for control over the value-added processes that drive technological advancements and energy transitions. As nations like Angola, Canada, South Africa, and India assert their interests, the global mineral sector is poised for significant shifts. These strategic moves could redefine the dynamics of supply chains, influence international trade policies, and shape the future of energy and technology. The race for critical minerals is not just about securing resources; it’s about leveraging them to drive economic growth, technological innovation, and sustainable development.