Who really owns Africa's natural resources? - Video
The United States and China are quietly competing over control of rare minerals.
China already dominates the refining and processing end. In 2025, it handles nearly 90 % of global rare-earth refining capacity, giving it leverage across supply chains.
Yet ironically, both of these superpowers lack significant domestic reserves of many of these minerals. Africa, in contrast, hosts them, from cobalt in the Democratic Republic of Congo to lithium in Zimbabwe and platinum in South Africa.
But much of the value is lost externally. Raw minerals are exported, refined elsewhere, and packaged into high-value goods overseas.
This extract-then-enrich model leaves African countries dependent and undercompensated. The insight is simple: control over resources means control over the future — whether in energy, security, or technological development.
The narrative, however, is shifting. Across the continent, governments and entrepreneurs are pushing to recapture value. Ghana has established a new Ghana Gold Board (GoldBod) to regulate gold trading, buy local output, and discourage smuggling.
Zimbabwe is making a bold move after banning raw lithium ore exports in 2022. The government plans to ban lithium concentrate exports starting January 2027, forcing downstream processing to occur domestically.
Still, challenges remain. Global lithium prices have collapsed from their highs, squeezing margins and putting pressure on miners to survive through volatility.
The geopolitical pressure is also intensifying as China has recently tightened its export controls on rare earths and related technologies, especially around defence and semiconductors, signalling a more assertive posture.
This story is written and edited by the Global South World team, you can contact us here.
