AFC Expands Critical Minerals Investment Plans Across Africa

The Africa Finance Corporation (AFC) is exploring investments in iron ore and uranium as it broadens its presence in Africa’s mining industry. Franklin Edochie, the institution’s deputy director, said its interests span precious metals, base metals, and critical minerals. AFC already has investments in gold, bauxite, copper, and manganese. Speaking at a mining conference in Cape Town, Edochie said Guinea, Liberia, Mauritania, and Sierra Leone could collectively become a leading iron ore-producing region over the next decade, adding that AFC intends to help finance projects to achieve this goal. He added that the corporation hopes to announce developments involving iron ore and uranium investments within six to 12 months. The push comes as the United States and other major economies race to secure electric vehicle and renewable energy supply chains while reducing dependence on China.