African Union says it is forming coalition of mineral-producing nations

The African Union has announced plans to form a coalition of mineral-producing nations to manage the global rush for critical minerals after holding a climate summit.

Africa holds vast mineral wealth – from the rare earths in the Democratic Republic of Congo to oil-rich Nigeria.

The 54-nation African Union met this week for a climate summit in the Ethiopian capital, Addis Ababa.

In a statement published on Wednesday, it said it would "explore and support the establishment of a coalition of critical mineral-producing countries of Africa to promote strategic and sustainable regional cooperation."

'Harnessing Africa's mineral wealth'

Labelling the move "Africa's Green Minerals Strategy", the AU said it would be a "vehicle for harnessing Africa's vast mineral wealth for climate-resilient development."

The move comes as Washington looks to secure a supply of strategic minerals from the DR Congo, in an attempt to challenge China's immense influence on the lucrative sector.

In August, UN head Antonio Guterres said that Africa could become a "renewable superpower" as it taps the raw materials needed for green technology around the world.