The Africa Finance Corporation (AFC) is seeking investments in iron ore and uranium as it looks to expand its presence in critical minerals projects across the African continent, according to the head of its mining and metals division, as reported by Reuters and republished by Mining.com on October 16, 2026. Critical minerals have become a focal point of global competition. The United States and other major economies are seeking to secure supply chains for electric vehicles and renewable energy while reducing their dependence on China, according to the Reuters report.
Franklin Edochie, deputy director and head of mining at the Lagos-based continental financial institution, said the agency's interest in Africa's mining sector is broad, spanning precious and base metals as well as critical minerals. AFC already has interests in gold, bauxite, copper and manganese across Africa and now wants to add iron ore and uranium to its portfolio. Speaking on the sidelines of a mining conference in Cape Town, Edochie said that combined output from Guinea, Liberia, Mauritania and Sierra Leone could, over the next 10 years, "easily" equate to a top three iron ore producer in volume terms.
He added: "We are working towards financing those projects." He also said that "hopefully, within the next 6 to 12 months, we should be able to announce something" regarding uranium and iron ore investments. Source: Reuters, via Mining.com (https://www.mining.com/web/afc-eyes-iron-ore-and-uranium-investments-in-africa/).
Source: mining.com