Alake Urges African Nations to Halt Raw Mineral Exports

Oladel Alake, the Minister of Solid Minerals, called on African nations to cease the export of raw minerals and instead develop local processing capabilities to maximize economic benefits from their mineral resources. Speaking at the Kenya Mine Investment Conference on Wednesday, Alake warned that Africa risks missing out on the full benefits of its vast mineral resources if it continues to operate in isolation.

He emphasized the need for regional cooperation among African countries to build a stronger competitive mining value chain. Alake highlighted that Africa currently captures a small share of the value generated from its natural resources and stressed the importance of harmonizing mining regulations and developing cross-border infrastructure to promote intra-African trade.

He noted the establishment of the African Miner Strategy Group in January 2023, which aims to enhance cooperation among member states and negotiate fairer terms with global partners. Alake concluded by expressing optimism that with the right strategies, Africa can transform its role from merely being a supplier of raw materials to a value-rich continent.