Africa critical minerals strategy targets processing gains

UN Trade and Development said Africa attracted about US$70 billion in foreign direct investment during 2025. That was the continent’s third-highest annual total since 1990, according to the agency’s 2026 World Investment Report. Capital alone, however, will not change Africa’s position in global supply chains.

The OECD reported on 19 October 2026 that Africa accounted for 10.6% of global critical-mineral exports.[2][3] According to the OECD, Africa’s critical-mineral exports were 24% raw and 72% semi-processed.[3] The gap between extraction and finished product is where most of the value, and most of the opportunity, still sits.

Processing capacity expands across the continent

The investment signal is already shifting from extraction towards processing. An EY and Africa Business+ study cited by Global Mining Review reported that identified African critical-mineral processing facilities rose from 79 in Q2 2025 to 101 in Q2 2026, an increase of 28%.[4] The database covered smelters, refineries, plants and tailings-reprocessing sites.[4]

Copper and cobalt led the expansion: copper-processing facilities rose from 28 to 39 and cobalt-processing facilities from 17 to 25 between Q2 2025 and Q2 2026.[4] The table below, drawn from the same EY and Africa Business+ figures, shows the scale of that shift.

These figures indicate a growing commercial case for beneficiation. Processing needs dependable power, water and transport, as well as technical skills. Governments should focus on bankable projects rather than broad mandates. Investors need clear licensing rules, stable fiscal terms and credible access to energy.

By FurtherAfrica’s reading of the numbers, competition between capital providers gives African governments more negotiating room. China remains a major source of infrastructure finance. Western governments and companies are seeking secure mineral supply chains. That competition is an advantage, but only if states open tenders, publish contracts and set measurable local-value targets in project design.

What does the strategy mean for investors?

Regional connectivity is the second priority. Transport corridors can connect mines to ports, refineries and industrial users. They can also lower costs for several countries at once, provided customs systems and operating standards align. Governments must coordinate before projects reach financial close. A refinery without reliable electricity is a stranded asset.

The OECD’s 19 October 2026 regional overview recommends thorough geological information systems, updated legal and fiscal frameworks, stronger links to the wider economy and formalised artisanal and small-scale mining.[2][7] Better data reduces exploration risk. Formal operating systems improve traceability and financing access, both of which matter to investors assessing supply security.

The harder work is building the industrial base to use them.

Africa’s strongest negotiating position comes from processing capacity, connected markets and credible project pipelines.

For investors, the most attractive opportunities may sit around the mine itself.

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