Remarks by President António Costa at G20 Session III: 'A fair and just future for all' 11:15 President António Costa attended the G20 summit in Johannesburg. He spoke at[...]

In this session, I would like to focus on Critical minerals. Critical minerals are essential to the economic and national security of both developed and developing nations.

As the transition to clean-energy sources continues to accelerate, demand for key minerals will soar. This is an enormous opportunity but also a great risk!

The production of these minerals is highly concentrated. As supply chains cross few jurisdictions, disruptions or export restrictions threaten the green transition and our industries' competitiveness.

Weaponizing these restrictions, as we have seen in recent weeks, runs counter any claims for open and fair trade, or for the defence of the multilateral system. If some countries do not wish to be seen as reliable partners, we take note and will continue to diversify and de-risk our supply chains.

For African countries, critical minerals are a tremendous opportunity. By leveraging their significant reserves, African nations can boost their economies, develop domestic value chains, and play a central role in the supply of materials for clean energy technologies like electric vehicles and solar panels.

Building strategic collaborations, that prioritise local value addition, African nations can explore their wealth - avoiding the return of resource curse risk.

In this regard, the Strategic Partnership between the EU and South Africa on sustainable minerals and metals value chains, signed in the margins of this summit is a very good example. Following previous agreements with Namibia, DRC, Zambia and Rwanda, will strengthen the cooperation between our two continents in critical minerals, and help us find alternatives to navigate the increasing risks of geopolitical competition.

This partnership between the EU and African countries is based on mutual interests. Developing local added value and creating, as you said Mr. President, fair, safe and durable jobs.