ADDIS ABABA, March 28 (Xinhua) -- The African Union (AU) has called on African countries to harness the continent's vast mineral resources through coordinated efforts to drive sustainable development, industrialization, and economic transformation.

In a statement issued Friday, the AU underscored the urgent need to address challenges regarding Africa's mineral resource usage to drive equitable and sustainable development.

The AU's call followed its recent meeting that focused on minerals-based industrialization as senior policymakers, experts, key sector stakeholders, private sector actors, and development partners met at the AU headquarters in Addis Ababa, the Ethiopian capital.

Calling on the mineral-rich continent to take "bold actions" to harness its mineral resources to drive industrialization, the AU said the recently launched Africa's Green Minerals Strategy (AGMS) is "a fundamental step in advancing Africa's industrialization and electrification through green minerals." It highlighted that the continental strategy seeks to position Africa not just as a supplier of raw materials but as a hub for green industrialization and value addition.

Ron Osman, director of industry, minerals, entrepreneurship and tourism at the AU Commission, underscored the need for Africa to take control of its mineral wealth. He emphasized that the AGMS "presents a unique opportunity for us to take control of our resources, move up the value chain, and drive industrialization for our people's prosperity."

"Africa holds the key to the world's ambitions for a just energy transition. Our continent is endowed with an unparalleled abundance of critical green minerals. However, the challenge lies in transforming this potential into equitable, sustainable growth for Africa while contributing to global progress," the AU statement quoted Osman as saying.

Emphasizing the urgent need to tap into the surging global demand for critical green minerals, the AU urged African countries to enhance their collective bargaining power to ensure that mineral agreements prioritize local value addition over raw material exports.

According to the AU, although Africa is the world's top producer of numerous mineral commodities, most of Africa's minerals are exported as ores, concentrates or metals. It said the lack of value addition hampers Africa's global trading position, leaving it vulnerable to the vagaries of global commodity markets. Enditem

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