Saudi Arabia is accelerating its investment drive into Africa's critical minerals sector as the Kingdom seeks to secure long-term supplies of the raw materials needed for electric vehicles, renewable energy technologies and advanced manufacturing. Backed by its Vision 2030 economic diversification strategy, Riyadh is increasingly viewing Africa as a strategic partner in building resilient global mineral supply chains while reducing its dependence on oil revenues.
Africa possesses some of the world's richest deposits of critical minerals, including lithium, cobalt, copper, graphite, manganese and rare earth elements. These minerals are essential for producing batteries, solar panels, wind turbines, semiconductors and electric vehicles. As global demand continues to rise, competition among major economies to secure reliable supplies has intensified, placing Africa at the center of the global energy transition.
One of Saudi Arabia's most significant investment vehicles is Manara Minerals, a joint venture between the Public Investment Fund (PIF) and Saudi Arabian Mining Company (Ma'aden). The company has been mandated to identify and acquire strategic mining assets around the world, with Africa emerging as one of its top priorities. Manara is reportedly targeting investments worth up to US$15 billion in critical mineral projects across the continent.
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said:
“Oil is no longer the energy security challenge, it's going to be gas, electricity and predominantly minerals.”
Saudi Arabia's interest extends beyond simply acquiring mineral assets. The Kingdom aims to position itself as a global hub for mineral processing, refining and manufacturing by importing raw materials from resource-rich countries and adding value through domestic industries. This strategy supports Vision 2030's objective of making mining the third pillar of the Saudi economy after oil and petrochemicals.
Across Africa, countries including Zambia, Namibia, the Democratic Republic of Congo, Tanzania, Zimbabwe and South Africa have become attractive destinations for Saudi investors because of their abundant reserves of copper, lithium, cobalt, nickel and rare earth minerals. These resources are increasingly vital as governments and manufacturers worldwide accelerate the shift toward clean energy technologies.
Saudi companies are also exploring partnerships that combine mining investments with supporting infrastructure such as transport networks, ports, logistics facilities and renewable energy projects. Analysts note that this integrated approach could improve mining efficiency while helping African countries address longstanding infrastructure gaps that have limited industrial development.
According to the OECD Regional Report on Critical Minerals in Africa:
“Saudi Arabia's parallel push to position itself as a regional minerals processing and trading hub suggests intentions to export minerals from African countries in raw or semi-processed forms, reserving processing opportunities for Saudi industry.”
The Kingdom's growing presence comes as Africa continues to attract increased attention from global powers competing for access to strategic resources. China has long dominated investment across Africa's mining sector through financing, infrastructure development and long-term supply agreements, while the United States and European Union have recently expanded their own critical mineral partnerships across the continent. Saudi Arabia is now positioning itself alongside these major players as competition for resource security intensifies.
Industry experts believe Saudi investment could unlock billions of dollars in new mining projects that have struggled to secure financing. Africa holds more than a quarter of the world's known critical mineral reserves, yet many deposits remain underdeveloped because of infrastructure deficits, financing constraints and regulatory uncertainty. Increased Gulf investment could therefore accelerate exploration, production and industrial growth across several African economies.
However, analysts also caution that African governments must ensure these partnerships generate long-term domestic value. Many policymakers are increasingly insisting that foreign investors support mineral beneficiation, technology transfer, workforce development and local manufacturing rather than exporting raw minerals with limited economic benefits for host countries. This reflects a broader continental shift toward industrialization and value addition.
Beyond mining, Saudi Arabia is strengthening diplomatic and economic engagement with African nations through high-level forums, trade missions and investment agreements. The Kingdom's participation in initiatives such as the Future Minerals Forum has reinforced its ambition to become a leading global player in the critical minerals economy while fostering stronger commercial relationships across Africa.
As the global transition to clean energy gathers pace, demand for critical minerals is expected to increase substantially over the coming decades. Saudi Arabia's expanding investment strategy presents significant opportunities for African economies to attract capital, modernize infrastructure and develop downstream industries. If managed effectively, these partnerships could help transform Africa from a supplier of raw materials into a competitive player in global manufacturing and the clean energy value chain, creating jobs and driving sustainable economic growth across the continent.