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African governments are expanding the responsibilities of state-owned mining companies as they compete for investment in critical minerals and seek greater returns from the continent’s natural resources.

The changing role of national mining companies will be a major topic at the African National Mining Companies Forum during African Mining Week 2026, which will be held in Cape Town from October 14 to 16. The forum is expected to bring together government officials, executives from state mining enterprises, and international investors to examine financing, project development, and mineral processing opportunities.

Africa is estimated to hold US$8.5 trillion in untapped mineral resources, including about 30% of the world’s critical mineral reserves. Governments are increasingly looking to national mining companies to help convert those resources into operating mines, processing facilities, and long-term industrial growth.

Governments Strengthen State Participation in Mining Projects

Several countries have introduced new state mining companies or expanded the responsibilities of existing organizations in recent years.

In the Democratic Republic of the Congo, state-backed companies Entreprise Générale du Cobalt and Gécamines continue to play a large part in developing the country’s critical minerals sector as it pursues greater economic value from domestic mineral production.

Zambia is using ZCCM Investments Holdings to support investment across its copper industry as the country works towards an annual production of three million tonnes by 2031.

Zimbabwe has also increased the role of Kuvimba Mining House, with the company supporting development across gold, lithium, and nickel projects while contributing to national mineral beneficiation objectives.

Uganda established the Uganda National Mining Company to participate directly in industrial mining developments. The company is expected to hold equity stakes of up to 15% in projects covering rare-earth elements, graphite, and gold.

Guinea has created the Nimba Mining Company as part of its Simandou 2040 strategy, which seeks to generate greater value from the country’s iron ore and bauxite resources.

Mali has strengthened the Société de Patrimoine Minier du Mali to support the continued development of its gold and lithium industries.

Liberia is preparing to establish a National Mining Company to unlock iron ore and other critical mineral opportunities across a largely underexplored geological base. Around 80% of the country’s geology remains unexplored.

Investment and Downstream Development Expected to Dominate Discussions

The African National Mining Companies Forum will examine how state-owned mining companies can attract private capital while supporting domestic mineral processing and stronger regional supply chains.

The program will also explore partnership models between governments and investors, approaches to financing new mining projects, opportunities to expand value-added mineral production, and greater cooperation between African mining jurisdictions.

As governments increase the role of national mining companies across the continent, the forum is expected to provide investors with direct engagement opportunities with organizations responsible for advancing many of Africa’s future mining developments.

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