PUBLICATION

Global Business Reports

AUTHORS

Lorena Stancu, Alexander Stonor, Salma Khaila

MACIG 2024 - Mining in Africa Country Investment Guide

January 22, 2024

A decade after launching the first MACIG, the 2024 edition still spans thousands of kilometers, over 150 interviews, and a dozen country profiles to paint the most comprehensive picture of a complex and fundamental continent for global mining. The extraordinary, unprecedented demand for the continent’s resources is currently balanced by the global landscape of uncertainty and price volatility. The latter keeps deterring investor appetite in projects sitting in nations with little political stability and affected by infrastructure, energy, and security woes. As these opposing forces continue to unfold, the fate of the African mining sector teeters on the precipice of either a generational opportunity or missed potential.

As the continent has long been the theatre of competition among global powers, one statement has been made abundantly clear by African leaders: the value created by investment in the mining industry must remain within Africa. A great deal of regional incentives – such as offtake agreements for battery and EV products, the establishment of Special Economic Zones, and the development of downstream capabilities – have materialized this ambition throughout the year and are poised to grow in 2024.

The world is hungry for African minerals. As Africa moves away from a purely extractive-based model to an integrated one, GBR visited North, West, Central, and South Africa to assess the progress and to understand the opportunities and challenges that lie therein.

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