Africa’s Mining Sector Attracts $5 Billion in M&A Deals in 2023

Africa’s mining industry saw a surge in mergers and acquisitions (M&A) in 2023, with total deal value reaching $5 billion—a 140% increase from the previous year. This uptick reflects growing investor confidence in the continent’s mineral potential, particularly in metals critical to the global energy transition.

One of the most notable transactions was MMG’s $2 billion acquisition of Khoemacau Copper Mining in Botswana, signaling strong interest in copper assets. Other deals spanned Ghana, Namibia, and South Africa, with investors prioritizing jurisdictions that offer regulatory stability and ESG compliance.

According to industry analysts, 71% of mining investors now consider ESG factors as decisive in their investment decisions. Countries with robust sustainability frameworks and transparent governance are increasingly favored, as global markets demand ethically sourced minerals.

The M&A boom is expected to continue into 2025, driven by strategic consolidation, resource nationalism, and the race to secure supply chains for electric vehicles, renewable energy, and digital infrastructure.