West Africa is home to some of the richest mining countries in the world, but dramatic differences between Ghana, Mali, and Guinea have either enabled or hindered each country’s progress and will shape how each country navigates the challenges of today’s global mining market.

Ghana is West Africa’s most mature and developed mining jurisdiction. Synonymous with gold, Ghana has become West Africa’s trademark mining destination. This success is due to the country’s society more than its geography or geology. The first country in Sub-Saharan Africa to gain independence in 1957, Ghana has been functioning as a peaceful, stable, and democratic state since 1992. The importance of political stability in the West-African sub-region cannot be underestimated and is a central reason that Ghana attracts mining stakeholders.

Just like Ghana, Mali is a country where gold is king. Gold accounts for more than 70% of the country’s exports. However, a coup d’etat in 2012 and the steep decline in the price of gold in 2013 have created a tough storm for a West African gold-centric country to weather. Mali now has a long way to go to reach the potential of its regional neighbor.

Guinea is an even less mature market, but its mineral potential is massive. Guinea boasts one third of the world’s bauxite resources and the world’s largest undeveloped iron project at Simandou, which has more than 2 billion metric tons of high-grade ore. Guinea does not benefit from the same level of political stability as Ghana but remains one of West Africa’s most promising mining opportunities.