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Global demand for rare earths is set to triple by 2035, reaching 150,000 tons from 91,000 tons in 2024. As producers and consumers seek new sources of supply to meet this surge, Africa is increasingly coming into focus. Projected to account for 9% of global output by 2029, the continent is accelerating exploration and drilling activity as governments and developers move to translate geological potential into commercial production. While large-scale output remains underdeveloped, Africa's high-grade deposits, improving project economics and faster development timelines are positioning it as a strategic supplier of critical minerals to global markets.

Expanding Africa's Exploration Portfolio

As the adoption of electric vehicles, renewable energy systems and advanced manufacturing accelerates global demand for rare earths, African countries are scaling up exploration efforts to delineate resources, support job creation and attract international mining investment.

London-listed Pensana commenced preparations for a 7,000-meter infill drilling program at Longonjo Mine in Angola - the country's first rare earth project. The program is designed to support an early 2027 mining and stockpiling schedule, with initial production of 20,000 tons per annum (tpa) and options to increase output to 40,000 tpa in a second phase. At full scale, the Longonjo project is projected to supply approximately 5% of the world's magnetic rare earths, positioning Angola as a key supplier on the global market.

Meanwhile, in Botswana, Canada's Tsodilo Resources is planning a 15,000-meter drilling campaign in 2026 at the Gcwihaba project for resource definition, while Kavango Resources intends to conduct additional drilling at its Ditau project as it seeks partners for expansion. In South Africa, Rainbow Rare Earths is advancing drilling at its Phalaborwa project, targeting completion of a feasibility study by the end of 2026. Namibia's ReExploration continues exploration activities at its Eureka and Lofdal projects, following several private placements raised in 2025. Meanwhile, in Mozambique's Tete province, Altona Rare Earths is drilling at the Monte Muambe high-grade gallium project, which has already defined a maiden mineral resource estimate of 13.6 million tons at 2.42% total rare earth oxides.

Rising Demand Bolsters Foreign Spending 

While the majority of Africa's rare earth production assets remain in construction or pre-production phases, global investor appetite for the continent's resource potential continues to strengthen, with several projects securing financing to accelerate deployment.

In October 2025, South Africa's Steenkampskraal Monazite Mine secured its first tranche of funding from the Industrial Development Corporation, supporting the development of the project's metallurgical phase and underpinning its production expansion plans. Hosting one of the world's highest-grade rare earth deposits, with an average grade of 14.5% total rare earth oxides, the project reinforces South Africa's emerging role in the global rare earth supply chain.

Momentum is also building in Malawi, where the Songwe Hill rare earth project secured $4.6 million in financing from the U.S. International Development Finance Corporation in September 2025 to advance front-end engineering and design studies. As Africa is forecast to attract up to $50 billion in investment for critical minerals development between 2024 and 2040, rare earth projects are increasingly central to converting rising investor interest into tangible capital flows and near-term production capacity.

Stepping into this picture, the upcoming African Mining Week (AMW) – scheduled for October 14-16, 2026 in Cape Town - will spotlight key project milestones and emerging investment opportunities across the continent's rare earth sector. The event will feature high-level panel discussions, exhibitions and exclusive networking sessions, bringing together global investors with African projects, regulators and stakeholders from across the rare earths value chain.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

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Africa holds 30% of the world's critical mineral reserves, positioning the continent at the center of the global energy transition and industrial supply chain realignment. With global mineral demand set to increase four-fold by 2050, this position becomes increasingly strategic - and it is within this context that African Mining Week (AMW) 2026 emerges as a critical platform to convert geological potential into investable projects, partnerships and value-chain development across the continent.

Taking place October 14-16 in Cape Town, AMW 2026 returns with a sharpened focus on partnerships and transactions that advance Africa's mineral value chain. This year's event takes place under the theme Mining the Future: Unearthing Africa's Full Mineral Value, reflecting a growing emphasis on project bankability, downstream beneficiation and cross-border collaboration as Africa seeks to strengthen its position in increasingly competitive global minerals markets.

Rising Mineral Output, Strengthened Global Trade Flows

Africa hosts some of the world's largest reserves of cobalt, platinum group metals, chrome, coltan and manganese, placing the continent at the forefront of global minerals essential to electrification, clean energy deployment and industrial expansion. As demand for these resources accelerates and commodity prices are expected to remain elevated through 2026, Africa's role as a strategic supply partner is becoming increasingly pronounced. Within this context, AMW 2026 will examine how African producers can move beyond volume-led growth to capture greater value across mining, processing and trade.

International Partnerships Drive Production

Across the continent, mineral producers are scaling-up production, leveraging international partnerships to secure capital and technical expertise. The Democratic Republic of Congo (DRC) – Africa's largest copper producer and the world's leading cobalt supplier – recently partnered with the U.S to leverage technical expertise and financing to unlock an estimated $24 trillion in untapped mineral potential. Speaking at AMW 2025, the country's Minister of Mines Louis Watum Kabamba, underscored the level of opportunity that remains in the country, explaining that “Opportunities across the mining sector in the DRC are huge, with 90% of our resources awaiting greenfield exploration.”

Similarly, Guinea - home to the world's largest bauxite reserves - is enhancing cooperation with global investors to maximize its mineral value chain under the Simandou 2040 - an international cooperation and national development strategy. Securing $20 billion in international investments for the Simandou iron ore project, Guinea is leveraging this global partnership model to expand bauxite production and processing, corelating to a 25% increase in bauxite exports in 2025.

Zambia, Africa's second-largest copper producer, is positioning its copper sector as a catalyst for economic expansion, GDP growth and employment creation. The country is actively engaging international investors to achieve its 2031 production target of 3.1 million tons per annum, reinforcing Africa's role in future copper supply chains.

Balancing Exports with Local Value Addition

As global mineral demand rises, African governments are increasingly prioritizing local beneficiation to retain value, deepen domestic supply chains and unlock broader economic growth. Ghana, Africa's largest gold producer, recently signed an agreement with South Africa's Rand Refinery to expand domestic gold processing capacity. Mali is developing a 200-ton-per-annum gold refinery in partnership with Russian investors. Meanwhile, Zimbabwe, Africa's largest lithium producer, is working with Chinese investors to expand lithium processing capacity ahead of its 2027 ban on lithium concentrate exports. These moves signal a broader shift form export-centered development models to strategies that prioritize domestic markets.

As global competition for critical minerals intensifies, Africa's ability to align production growth with beneficiation, investment readiness and policy coherence will define its long-term position in global supply chains. AMW 2026 will serve as a focal point for advancing the partnerships and transactions needed to translate mineral wealth into sustainable economic value across the continent.

“AMW 2026 is designed to bring project developers, governments and international investors into the same room to accelerate transactions that move Africa's mining sector from potential to production and value creation,” stated Rachelle Kasongo, Event Director, AMW.

AMW 2026 serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.