Davos 2026: The Intersection of Intelligence and Infrastructure

Shared Experiences By Ceaser Siwale

The World Economic Forum (WEF) and INSEAD 56th Annual Meeting in Davos, held from January 19–23, 2026, marked a decisive pivot in the global energy narrative. Under the theme “A Spirit of Dialogue,” the focus shifted from long-term climate ambition to the immediate, physical realities of energy security, industrial competition, and the resource-intensive nature of the AI revolution.

Highlights from Davos 2026

While previous years were dominated by “green tweaks” and distant net-zero targets, 2026 was defined by energy realism.

• The AI-Energy Nexus: Leaders identified a critical choke point: AI’s demand for power and minerals is projected to grow by 165% by 2030, potentially straining global grids and water supplies.
• Infrastructure Reinvention: The consensus was that the transition will not be won by replacement alone but by the reinvention of existing assets using physics-based AI to extend structural life and capacity.
• Geopolitics of Minerals: With the U.S. and Europe rupturing traditional alliances, “middle powers” and resource-rich regions—particularly Africa—have taken centre stage as strategic partners in ethical supply chains.

Panel Focus: Nuclear, AI & Critical Minerals

At the Energy Leadership Forum, co-powered by the INSEAD Alumni Energy Club, a standout session titled “Nuclear, AI & Critical Minerals: Building the Next Power System” brought together Ceaser Siwale, CEO of Pangaea Securities, and Jacob Stedman, CEO of Blykalla. The discussion addressed a stark reality: the world is attempting to digitise and decarbonise simultaneously, but both are anchored in a finite, mineral-heavy resource base.

1. The Copper Crunch

Ceaser Siwale highlighted that global copper demand is projected to double by 2035, yet high-grade discoveries are at a record low.

• Data Centre Demand: A single modern data centre requires significant copper per megawatt; Microsoft’s Chicago facility alone consumed 2,177 tonnes.
• The Transition Gap: Electric vehicles (EVs) require 83kg of copper, compared to 23 kilograms of combustion engines, and renewable technologies can use up to 5 times more copper than fossil fuel plants.

2. Zambia and SADC’s Strategic Advantage

The session positioned the SADC region as the global spotlight for supply chain security. Zambia has set an ambitious 3-million tonne annual production mandate to help close the global deficit.

“Zambia’s cost advantage is undeniable. Replacement costs for Tier 2 brownfield projects in Zambia sit at roughly USD 8,000–10,000/tpa, compared to over USD 43,000/tpa for Tier 1 greenfield projects globally”.

3. Solving the “Discovery Gap”

Siwale addressed the “Valley of Death” in capital markets. While $11 billion has entered Zambia recently, 80% is targeted at existing expansions rather than new exploration.

• Exploration Collapse: Regional exploration budgets have plummeted from $100 million a decade ago to just $10–20 million today.
• The Turnkey Solution: Pangaea proposed a dedicated USD 50-75 million Exploration & Development Fund. This vehicle is designed to de-risk projects from initial discovery to a bankable Mineral Resource Estimate (MRE), creating an entry point for larger institutional investors who typically avoid early-stage “Africa risk”.

The Cost of Inaction

The joint forward-looking conclusion was clear: if generation, minerals, and capital markets do not align, the “replacement cost” of supply will skyrocket, further inflating global energy prices. The path forward requires “boots-on-the-ground” curated pipelines and a move toward localising the mining supply chain to ensure the raw materials of the future are secured today.

Africa’s Role in the New Economy and WEF Davos 2026: How can Africa Prosper in the New Economy? – YouTube This video explores how Africa is leveraging its critical mineral reserves to become an essential partner in the global energy transition and industrial growth.