Rising Final Investment Decisions Drive Africa’s Mining Boom Amid $8.5 Trillion Resource Potential

Africa’s mining sector is entering a new phase of growth as a wave of Final Investment Decisions (FIDs) signals increasing investor confidence and accelerating project development across the continent.

Recent approvals by major mining companies highlight the scale of capital flowing into Africa, as global players position themselves to unlock the continent’s estimated $8.5 trillion in untapped mineral resources.

Major Gold Projects Advance to Construction

Australian firm Resolute Mining has approved a $516 million FID for its Doropo Gold Project in Ivory Coast, paving the way for construction. The project is expected to deliver approximately 500,000 ounces of gold annually by 2028, reinforcing both national and regional production capacity.

Similarly, Toubani Resources has sanctioned a $216 million investment for the Kobada Gold Project in Mali. Once operational, the mine is projected to produce around 162,000 ounces of gold per year, supporting Mali’s ambitions to expand output beyond its current levels.

Investment Momentum Strengthens Across the Continent

The surge in FIDs reflects growing capital inflows into Africa’s mining industry, as developers fast-track projects to meet rising global demand for minerals. This momentum is expected to drive infrastructure development, job creation, and long-term economic growth.

With demand for critical minerals forecast to triple by 2030, Africa—home to roughly 30% of global energy transition mineral reserves—is increasingly central to global supply chains.

Strategic Investments Expand Key Mineral Supply

Global mining giant Rio Tinto has approved a $473 million investment to extend the life of its Zulti South Project in South Africa through to 2050. The project will continue supplying key mineral sands such as zircon and ilmenite, essential for construction and advanced manufacturing.

Meanwhile, Tharisa has committed $547 million to expand its underground operations within the Bushveld Complex. The development is expected to produce over 200,000 ounces of platinum group metals annually, alongside more than two million tons of chrome concentrate—further strengthening South Africa’s global leadership in PGMs.

Pipeline of Future Projects Gains Momentum

Beyond current approvals, several major projects are progressing toward FID across Africa. These include the Manono Lithium Project in the Democratic Republic of Congo, the Gorumbwa Platinum Project in Zimbabwe, the Diamba Sud Gold Project in Senegal, and the Kabanga Nickel Project in Tanzania.

These developments reflect strong investor positioning in battery minerals and critical resources essential for the global energy transition.

Spotlight on African Mining Week 2026

The growing wave of investment decisions will be a central theme at African Mining Week 2026, scheduled for October 14–16 in Cape Town.

The event will bring together investors, project developers, and policymakers to explore new partnerships and investment opportunities across Africa’s mining value chain. Discussions will focus on how rising FIDs are accelerating production, strengthening infrastructure, and enabling the continent to unlock long-term value from its mineral wealth.