Africa’s vast mineral reserves, valued at an estimated $29.5 trillion, could significantly boost employment across the continent as global demand for critical minerals intensifies, according to new data released by the Africa Finance Corporation (AFC).
The Compendium of Africa’s Strategic Minerals 2026 estimates that Africa holds about 20% of global mineral reserves, with roughly $8.6 trillion still untapped. The report points to downstream value addition, including aluminium processing, fertilizer production, battery materials and alloy manufacturing, as key to translating mineral wealth into sustainable industrial growth and job creation.
Across the continent, several countries are already positioning their mining sectors for expansion.
In Namibia, the resumption of uranium production in 2025 and 2026 is supporting renewed activity in the sector. The country’s mining industry directly employed 20,843 people at the end of 2024, according to Deputy Minister of Industries, Mines and Energy Gaudentia Krohne. Diversification into rare earths, copper and lithium, alongside regulatory reforms, is expected to attract further investment.
South Africa has outlined plans to mobilise R2 trillion over the next five years to strengthen its critical minerals value chain, covering exploration, project development, manufacturing and skills training. Mining employment remained stable in 2025, with approximately 468,000 formal workers recorded mid-year.
In Zambia, the mining sector supported more than 73,000 jobs in 2025. Planned copper expansion projects are expected to further increase employment. Investments include a $300 million development of the Mingomba Mine by KoBold Metals, projected to create more than 700 jobs, alongside multi-billion-dollar expansions by Vedanta Resources and First Quantum Minerals.
The AFC says its own $700 million investment portfolio in mining has generated more than 15,000 jobs, with the majority directed toward critical minerals projects.
The global push by the United States, Europe and China to secure access to African minerals is also shaping employment prospects. In the Democratic Republic of the Congo, where mining already supports over 100,000 jobs, only an estimated 10% of the country’s $24 trillion mineral reserves have been exploited.
Despite the sector’s potential, limited access to capital remains a key constraint, particularly for local and small-scale operators. Financing gaps continue to slow project development and limit job expansion.
Industry stakeholders are expected to focus on unlocking investment and accelerating project execution at African Mining Week 2026, scheduled for October in Cape Town.
