By: The African report

According to the latest update of the interactive platform Critical Minerals: Pivotal Outlook (free to access until 5 September) from our sister publication Africa Business+, Gulf countries have significantly increased their investments in critical mineral projects on the continent since 2024. That surge has accelerated markedly in the first half of 2025.

Since the start of the year, a study carried out in partnership with the consultancy EY estimates total Gulf investment in Africa’s critical mineral projects at $2.2bn. That makes the region the third-largest source of funding for these resources in Africa, behind China and Western countries.

Saudi and Emirati investors could soon hold stakes of more than 25% in five separate critical mineral projects in Africa, up from just two at the end of 2024. The Saudi phosphate giant Ma’aden (Saudi Arabian Mining Company), via its subsidiary Manara Minerals (a joint venture with the kingdom’s Public Investment Fund, or PIF, the main vehicle for Riyadh’s strategic mining ambitions), has announced plans to invest $15bn in Africa over the coming years and has signed a memorandum of understanding with Zambia.

The goal is to secure supplies of copper, cobalt and lithium for the gigafactories planned in Abu Dhabi and Riyadh

Abu Dhabi has also been particularly active this year through International Resources Holding (IRH), a company controlled by International Holding Company (IHC) and chaired by Tahnoun bin Zayed al Nahyan, the Emirates’ national security adviser and brother of the president.

IRH has invested in Zambia’s Mopani copper mine, which it acquired in 2024 for $1.1bn, with a declared production target of 150,000 tonnes per year. It has also reportedly opened talks to acquire up to 49% of Chemaf, which owns two copper and cobalt mines in Democratic Republic of Congo: Étoile in Haut-Katanga and Mutoshi in Lualaba.

In the first half of the year, IRH also expressed interest to the Congolese state-owned miner Gécamines in developing Musonoï East, a copper and cobalt deposit near Kolwezi.

Securing supply for gigafactories

Finally, in June, IRH agreed to buy 56% of Alphamin Resources – which operates the Bisie tin mine (though tin is not classified as a critical mineral in the study) – for nearly $370m, pending approval from Congolese authorities.

The Emirates are no longer focusing solely on gold but are turning to other high-demand metals.

“The goal is to secure supplies of copper, cobalt and lithium for the gigafactories planned in Abu Dhabi and Riyadh. This aligns with the Gulf states’ strategies to diversify their economies for the post-oil era. While most of these stakes are minority holdings, they still give influence over offtake agreements without the need for operational management,” says Guillaume Marion, a manager at EY who worked on the study.