Governments across Africa have tightened their control of key minerals, the latest signs of a shift toward resource nationalism. DR Congo, the world’s top producer of cobalt — a key component in batteries and mobile phones — said it would halt exports of the mineral as it looks to boost prices, while Niger said it would nationalize a French-run uranium mine.
As China, the US, and Russia vie for control of Africa’s natural resources, nations on the continent have moved to develop their refining and manufacturing abilities as they look to gain a firmer grip on valuable supply chains.
After decades of exporting their mineral riches only to boost economic growth elsewhere, African nations are determined “to avoid repeating the ‘resource curse’ mistakes of the past,” law firm Covington wrote last year.
