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Cape Town: Africa’s vast mineral wealth is proving to be a potent engine for economic growth, with nations across the continent forging strategic partnerships to optimize their mining value chains. From gold in Ghana to diamonds in Botswana, the sector is delivering significant revenue and driving sustainable development.
Across the continent, governments are reporting a surge in mining’s contribution to national coffers. In Mali, for instance, projections indicate a staggering $1.2 billion in tax revenue from the mineral sector alone in the first quarter of 2025. This surge is fueled by new projects like Hummingbird Resources’ Yanfolia and Ganfeng Lithium’s Goulamina mine, promising further expansion of the industry, which already contributed 21.5% to the national budget in 2023.
Malawi, meanwhile, is aggressively pursuing its Agriculture, Mining, and Tourism strategy, aiming to boost exports, create jobs, and attract investment. The World Bank predicts the mining sector will contribute a substantial 12% to the country’s GDP by 2027, generating a potential $300 billion in export revenue between 2026 and 2040.
In South Africa, the mining sector remains a formidable economic force, contributing 6% to GDP in 2024 and generating R100 billion in national revenue. The industry provides nearly half a million formal jobs and accounts for 45% of the country’s total merchandise exports. Efforts to revitalize the gold industry and expand critical mineral production are expected to further solidify its economic significance.
Zambia, heavily reliant on copper, sees mining contribute 20% of its total revenue, 15% of formal employment, and a massive 70% of export earnings. Ambitious plans to increase copper production and attract new investments are set to further bolster the sector’s contribution to GDP.
Botswana, with its wealth of untapped mineral potential, is strategically leveraging international partnerships to unlock additional value from its diamond sector. Currently, diamond mining accounts for 30% of the nation’s GDP and 85% of its total exports.
Ghana’s mining industry, rich in gold, manganese, bauxite, and diamonds, is a significant economic driver. Gold alone contributed 48.4% to GDP in 2024, with small-scale gold miners generating $5 billion in foreign earnings. The country is focusing on improved regulation and increased investment to maximize the sector’s potential.
As global demand for minerals continues to rise, driven by the energy transition and the Fourth Industrial Revolution, Africa’s mining sector is poised for further growth. The upcoming African Mining Week in Cape Town will serve as a platform to explore how countries are leveraging this resource to drive economic growth and infrastructure development, solidifying mining’s role as a cornerstone of Africa’s economic future.
