African governments are stepping up efforts to attract investment into the continent’s vast mineral resources by expanding the role of state-owned mining companies, with the strategy set to take centre stage at this year’s African Mining Week.
The African National Mining Companies Forum, scheduled during the African Mining Week 2026 from October 14 to 16 in Cape Town, will bring together state-owned mining firms, policymakers and international investors to discuss financing, project development and mineral value addition across the continent.
The forum comes as African countries seek to unlock an estimated US$8.5 trillion in untapped mineral resources, including about 30 percent of the world’s critical mineral reserves, while shifting from exporting raw materials to developing domestic processing industries and stronger regional supply chains.
Governments are increasingly positioning national mining companies as strategic investment vehicles rather than passive state shareholders, with mandates that include attracting capital, developing mining projects and supporting local mineral beneficiation.
Across West Africa, Liberia is advancing plans to establish a national mining company to develop its iron ore and critical minerals sector, with authorities estimating that around 80% of the country’s geology remains unexplored. Guinea has established the Nimba Mining Company under its Simandou 2040 strategy to maximise value from its iron ore and bauxite resources, while Mali has strengthened the role of the Société de Patrimoine Minier du Mali to support growth in its gold and lithium industries.
In East Africa, Uganda recently created the Uganda National Mining Company, which will hold equity stakes of up to 15% in industrial mining projects as the country develops its rare earth, graphite and gold resources.
Meanwhile, Democratic Republic of the Congo continues to expand the role of state-backed mining firms, including Gécamines and the Entreprise Générale du Cobalt, as it seeks to capture greater value from its globally significant reserves of critical minerals.
In Southern Africa, Zambia is using ZCCM Investments Holdings to attract strategic investment as it targets annual copper production of three million tonnes by 2031. Zimbabwe is pursuing a similar approach through Kuvimba Mining House to accelerate development of its gold, lithium and nickel assets while advancing domestic mineral processing.
Organisers say the forum will provide investors with direct access to the institutions shaping mining policy and project development across Africa, with discussions expected to focus on investment partnerships, capital mobilisation, regional cooperation and expanding value addition throughout the mining sector.
The initiative reflects a broader shift by African governments to secure a larger share of mining revenues and strengthen their role in global supply chains as demand for critical minerals continues to rise.
