Despite the absence of major African economies such as Nigeria and South Africa from the G7 summit, the bloc’s $64 billion critical minerals push could still open fresh opportunities for the continent, as Kenya moves closer to a local processing agreement, while a rare earth processing plant takes shape in West Africa outside direct G7 financing.
G7 leaders meeting in Evian, France, on June 17, 2026, agreed to coordinate investment, processing, stockpiling, recycling and supply-chain data for critical minerals, including rare earths, lithium and nickel.
In their declaration, the leaders committed “to coordinating efforts within the G7 and with partner countries to establish and develop the necessary processing and industrial capacities for diversification of our critical minerals value chains.”
Africa Seeks More Value
For African governments, the pact comes as pressure grows to retain more value from mineral resources rather than export them for processing elsewhere.
