Such approvals signal growing capital inflows into Africa’s mining sector, as developers advance projects toward production to meet rising global mineral demand while the continent seeks investment partners to unlock its estimated $8.5 trillion in untapped mineral resources.

Rising FIDs Drive New Phase of Growth for African Mining

As more mining projects reach FID stage, Africa’s mining industry is entering a new phase of expansion, with the capital strengthening the continent’s role in global supply chains while driving infrastructure development, job creation and long-term economic growth.

With global demand for critical minerals expected to triple by 2030, FID announcements across Africa are set to accelerate, underpinned by the continent’s 30% share of energy transition metal reserves. The expanding pipeline of FIDs underscores the strong momentum building across the sector.

Rio Tinto approved a $473 million investment decision to extend the life of the Zulti South Project to 2050, strengthening South Africa’s position as a long-term supplier of mineral sands including zircon and ilmenite, which are essential inputs for construction, ceramics and advanced manufacturing industries. Meanwhile, Tharisa approved a $547 million FID for an underground expansion at its Bushveld Complex operations. The project is expected to deliver over 200,000 ounces of platinum group metals (PGMs) annually alongside more than two million tons of chrome concentrate, reinforcing the country’s position as the world’s leading supplier of PGMs.

Beyond these projects, a broader pipeline of developments is advancing toward investment decisions across the continent. Major projects including 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 are progressing toward potential FIDs as investors position themselves to capture rising demand for battery minerals and critical metals.

Investment Momentum Ahead of African Mining Week

This growing pipeline of investment decisions and project developments will be a key focus of the upcoming African Mining Week 2026, taking place October 14–16 in Cape Town. The event will connect investors, project developers and government regulators to explore partnership opportunities and investment prospects across Africa’s mining value chain. Through high-level discussions and project showcases, the conference will examine how rising FIDs are driving production growth, strengthening infrastructure development and advancing Africa’s strategy to transform its mineral wealth into long-term economic value.

This agenda will take center stage at the Invest in African Energy (IAE) Forum in Paris, where Equatorial Guinea will feature in a dedicated Country Spotlight session led by Antonio Oburu Ondo, Minister of Mines and Hydrocarbons. With participation from key industry players, including Panoro Energy and Perceptum, EG Ronda bid round organizer, the forum will provide a platform to outline the country’s gas sector repositioning and where investors can engage.

Momentum behind this model has accelerated in recent months. In February 2026, Equatorial Guinea and Cameroon signed a unitization agreement to jointly develop the cross-border Yoyo-Yolanda gas fields, estimated to hold around 2.5 trillion cubic feet of gas. Production from the project is slated to feed directly into Equatorial Guinea’s Punta Europa complex, reinforcing the country’s hub strategy without requiring standalone export infrastructure.

Simultaneously, the government strengthened domestic supply through a Heads of Agreement with Chevron to expand the Aseng gas project, increasing GEPetrol’s stake from 5% to over 30%. This not only stabilizes production but also secures additional feedstock for downstream processing, linking upstream development directly to the hub model.

Rather than focusing on new LNG developments, Equatorial Guinea is aggregating domestic and regional gas volumes to maximize existing infrastructure. At the core of this approach is the Punta Europa complex on Bioko Island, one of sub-Saharan Africa’s most advanced gas processing hubs, with LNG, methanol and LPG facilities already in place. The current challenge is securing reliable feedstock as output from legacy fields such as Alba declines.

The Gas Mega Hub initiative offers a faster, more cost-effective route to monetization. By processing third-party volumes from Cameroon, and potentially Nigeria, the country can leverage existing facilities while avoiding the risks and capital intensity of greenfield LNG projects. This approach opens a spectrum of investment opportunities across gas aggregation, transport, processing and downstream integration, often structured through commercially aligned frameworks that reduce execution risk.

Policy and regulatory support are central to this transition. The Ministry of Mines and Hydrocarbons has prioritized regulatory alignment and cross-border cooperation, recognizing that successful hub development depends as much on enabling frameworks as on physical infrastructure. The recent agreements reflect growing clarity and investor confidence.

For the global investment community, IAE 2026 offers a strategic opportunity to engage directly with government and operators shaping the hub model. The participation of both policymakers and companies active in the sector reinforces the credibility and immediate relevance of Equatorial Guinea’s strategy.

Equatorial Guinea is no longer waiting for new discoveries to drive growth. By leveraging existing infrastructure, securing regional supply and building flexible commercial models, the country is positioning itself as a critical node for gas monetization in West Africa. Success here could extend the life of its assets while establishing a platform for regional energy trade.

IAE 2026 (https://apo-opa.co/41nyEZQ) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com.

Ahead of AEW, Afreximbank has expanded its global footprint by raising its financing cap for the Caribbean Community (CARICOM) to $5 billion. The increase builds on more than $750 million already deployed and a pipeline exceeding $2 billion, targeting infrastructure, tourism, agro-processing and financial services while strengthening Africa–Caribbean trade and investment corridors.

The bank reached a recent milestone with South Africa joining as its 54th member state, completing full continental coverage. This accession unlocks an $8 billion country program focused on energy, manufacturing and trade, alongside a $3 billion Transformation Fund aimed at supporting black-owned businesses and SMEs while advancing industrial development and regional value chains. In recent years, the bank has also bolstered its capital base, including a $25 billion increase in authorized capital, enhancing its capacity to finance large-scale energy and infrastructure projects across Africa.

Afreximbank’s expanding role extends directly into project financing through the Africa Energy Bank, a joint initiative spearheaded by Afreximbank and the African Petroleum Producers’ Organization. Designed to address a financing gap left by international lenders’ retreat from upstream oil and gas, the bank aims to mobilize African capital for African energy projects, with initial funding targets in the billions and operations set to begin in 2026. Together with Afreximbank’s strengthened balance sheet, this initiative signals a broader shift toward African-led capital structures capable of underwriting large-scale upstream, midstream and infrastructure developments – positioning the continent not just as a capital recipient, but as a capital originator.

“Afreximbank’s partnership with AEW 2026 reflects a key shift in how Africa is financing its energy future,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “We’re moving beyond reliance on external capital to a model where African institutions are structuring, financing and driving projects from the ground up. As investment accelerates across oil, gas and renewables, players like Afreximbank are not only supporting deals, but helping define the market.”

At African Energy Week 2026, Afreximbank is expected to play a central role in advancing financing discussions, supporting project origination and strengthening partnerships between governments, developers and investors. Its participation highlights a broader shift toward African-led capital in energy development, reinforcing the event’s position as a catalyst for bankable projects, regional integration and long-term energy security.