Downstream diversification in mineral-rich countries offers opportunities for economic development, value addition, and supply chain security. However, its success depends on various factors, including infrastructure, workforce capabilities, geopolitical conditions, and market stability. We examine the challenges and opportunities of downstream diversification, highlighting key enablers such as policy frameworks, industrial strategies, and international partnerships. The chapter, and book at large, underscores the importance of regulatory stability and fiscal discipline while cautioning against over-reliance on capital-intensive projects with uncertain returns. We provide a nuanced understanding of how policymakers can approach downstream diversification as part of a broader economic strategy. Rather than viewing it as an automatic path to development, it should be pursued selectively and in alignment with national comparative advantages and global market realities.