At the UNCTAD16 conference, leaders call for fair value chains, local processing and responsible investment to power a just energy transition.
As the global race for critical minerals intensifies, developing countries rich in lithium, cobalt and nickel are urging a new international compact to ensure the clean energy transition delivers prosperity at home – not just profits abroad.
At the Global Commodities Forum during the 16th United Nations Conference on Trade and Development (UNCTAD16) in Geneva, UNCTAD Deputy Secretary-General Pedro Manuel Moreno said the surge in demand for critical energy transition minerals represents “a moment of immense opportunity” for developing nations – but also carries real risks.
“Critical minerals are becoming the backbone of a new industrial era,” he said.
“[But] too often, mineral-rich nations have seen their wealth leave their shores unprocessed.”
“A resilient future demands not just responsible extraction, but equitable value creation, fair risk-sharing and inclusive governance.”
Moreno noted that around two-thirds of developing countries remain dependent on raw material exports, while refining and processing capacity “remain concentrated in just a few countries,” leaving global supply chains fragile.
Pivot away from raw material exports
The Democratic Republic of the Congo’s Minister of International Trade, Julien Paluku Kahongya, said his country – home to most of the world’s cobalt – has reformed its mining code to ensure resources benefit local communities.
“When we have minerals, people’s eyes look at us with greed,” he said, linking conflict in eastern Congo to competition for control of resources.
Under Congo’s revised laws, companies must now “recruit locally and give the activity added value,” and can only export minerals that have been processed domestically.
“Before we can grant an exploitation permit to a corporation,” he said, “they must present an industrialization plan.”
The government has also established special economic zones to produce components such as batteries for the electronics industry, with business incentives to attract investment.
Policy space and bold strategy
Indonesia’s Director-General for International Trade Negotiation, Djatmiko Bris Witjaksono, said his country’s 15-year effort to build a downstream nickel industry shows what political will can achieve.
“It’s not an overnight story,” he said. And stressed that it requires a bold national political decision and collaboration with as many stakeholders as possible to move up the value chain.
He stressed that the global trade system must give developing nations the policy space to regulate and improve their prosperity and sustainability.
From extraction to transformation
Namibia’s Ambassador to the UN in Geneva, Julia Imene-Chanduru, said her government has placed value addition and economic diversification “at the heart of our national development agenda.”
“For far too long, resource-rich developing countries have served merely as primary exporters of raw materials, capturing only a fraction of the final value” she said.
Namibia has now prohibited exports of unprocessed lithium, cobalt and other critical minerals – not as a ban on trade, she emphasized, “but as an invitation to investors to partner with us in processing and manufacturing on Namibian soil.”
Namibia’s goal, she said, is to increase the share of processed mineral exports to 57% by 2030 while becoming a hub for green hydrogen production.
“This global energy transition must not reinforce asymmetries in value distribution,” she said.
“It must open avenues for shared prosperity.”
A shared responsibility for a fair transition
The forum concluded with a strong call for collaboration among governments, industry and international organizations to align the green transition with sustainable development.
Participants emphasized that building transparent, diversified and value-creating mineral supply chains will require shared responsibility, investment in technology and skills, and coherent global governance.
UNCTAD is working through a new UN Task Force on Critical Energy Transition Minerals to help developing countries capture more value, diversify and transform their economies.
By working together, countries can ensure that the minerals powering the clean energy revolution also fuel inclusive growth, stability and long-term resilience for all.