Leveraging demand for critical minerals to boost inclusive growth and sustainable development
In June 2024, UN Trade and Development (UNCTAD) will celebrate its 60th anniversary with a Global Leaders Forum to be held in Geneva, Switzerland, under the theme “Charting a New Development Course in a Changing World”.
It will be preceded by a pre-event in Addis Ababa organized jointly by UN Trade and Development, ECA and the African Minerals Development Center, which will bring together leaders from Africa to discuss the course of development in a world where prosperity for all remains central and fundamental. Outcomes and recommendations from this pre-event will inform the discussions at the Global Leaders Forum.
The pre-event will explore the opportunities and resources in the critical minerals sector for supporting Africa’s development. It will build on established frameworks agreed by Member States to maximize the developmental impact of mineral endowments, namely the Africa Mining Vision, Africa Green Minerals Strategies, and various sub-regional and national policies.
It will examine the current critical minerals boom to fuel the global energy transition in the context of Africa’s own energy and mineral industrialization needs. The event will discuss the challenges associated with raising revenues and promoting value addition in the minerals sector and how UN Trade and Development, ECA and other key partners can position themselves to respond to these challenges as they continue to assist African countries in addressing macro-level development challenges, making the most of their natural resource endowments and limiting their exposure to financial volatility and debt.
Expected outcomes of the discussion
- To reflect on contributions to promote the integration of African countries into the world economy in pursuit of sustainable development during the past six decades and its future role on the continent.
- To deliberate on key emerging challenges and opportunities for sustainable development and provide recommendations on the way forward, with a special focus on critical ‘green’ minerals.
