Foreign Affairs

Mineral-Rich Nation Wants To Join Forces With US Dollar’s Chief Enemy

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Critical mineral rich country, Ghana, has become the fourth African nation to apply for membership in the Brazil, Russia, India, China, South America (BRICS) economic bloc.

Ghana announced plans to officially apply for the BRICS economic bloc Wednesday. The BRICS coalition was formed to directly challenge the U.S. dollar’s dominance and provides alternative economic routes for America’s biggest adversaries.

Ghana is a hotbed for critical minerals including gold, lithium, bauxite, manganese, and graphite. Manganese and bauxite are key for the production of tanks, ships, and aircrafts, while lithium is necessary for the production of batteries — crucial for the powering of drones, missiles, and directed-energy weapons.

Mining generates over one third of the country’s exports, according to the International Trade Administration. Gold accounts for approximately 95% of mining in the country.

“On the occasion of this important visit, I announced Cabinet’s strategic decision to apply for BRICS membership. The Government of Ghana is determined to position Ghana as a reliable friend to all as we expand our geopolitical and economic frontiers, anchored fundamentally on our national interest and freedom of choice in this fast-evolving multipolar world,” Ghana’s Foreign Affairs Minister, Samuel Okudzeto Ablakwa, announced on X.

Ablakwa announced this decision during a joint press briefing with the visiting Indian External Affairs Minister S. Jaishankar.

The Embassy of Ghana in Washington, D.C., did not immediately respond to a request for comment.

BRICS is just one aspect of competition between Washington and Beijing on the continent.

While America has traditionally focused on humanitarian aid, China has taken part in infrastructure projects. As the United States Dollar continues to weaken, developing countries will continue to look beyond America for trade, leading to economic blocs like BRICS.

A prospective member state must “align with the guiding principles of BRICS, contribute to the strengthening of BRICS, and be an emerging or developing country with regional and strategic global influence,” according to the BRICS Information Center.

Though a developing country, Ghana is the eighth-largest economy in Africa, according to its president. Additionally, it represents West Africa in the African Union, where it contributes to regional security and development.

The coalition consists of 11 members, and represents 41% of global GDP, according to the BRICS-affiliated Institute for Digital Economy and Artificial Systems.