GC Forum Extractives: significant opportunities for Africa as the global mining landscape evolves

After being viewed for some time “as quite an unsexy industry, both from an investment perspective and also an ESG perspective”, mining may be heading into a super cycle thanks to shifting geopolitics and energy transition, which is great news for African nations that can capitalise on their mineral assets, says Fraser Mitchell. 

“As developed economies look to decarbonise energy infrastructure, mining has been viewed, rightly or wrongly, in the same bucket of dirty industries like oil and gas,” adds Fraser, a partner at leading London-headquartered firm Lewis Silkin, with significant experience involving Africa-based projects. “What has really changed is the realisation the mining industry provides the critical and rare earth minerals that are absolutely essential for that green energy transition. Also, from a geopolitical standpoint, I certainly can't remember a time where mines, who owns them, who is extracting what from where, is quite so pressing at a very high political level.”

This reflects the realisation, some quicker than others, that China has ‘stolen a march’ on various other players in the space with innovation, investment, procurement, and development of assets in Africa, and elsewhere.

“We now see critical resources as almost a bargaining chip in global diplomacy,” says Fraser, who will be attending next month’s GC Forum Extractives in Cape Town. 

A new World Economic Forum report published in August highlighted the “urgent need” to unlock investment in southern Africa’s critical minerals to meet surging global demand for clean energy and low-carbon technologies. Africa holds nearly 30% of known global reserves of critical minerals, yet currently attracts less than 10% of global exploration spending; a stark gap between potential and capital flows.

Fraser points to October’s announcement that the US and Abu Dhabi governments will invest $1.8 billion into mining and refining projects in emerging markets via Orion Critical Mineral Consortium as a sign of the shifting landscape. He believes such hyper market trends, with intensifying global competition, will lead to greater investment from governments and others into mining, and a surge in development. 

“That's obviously great news for Africa, provided it is able to capitalise on its position as the holders of those assets,” he says. “There are lots of risks and barriers to the development of mining assets in parts of Africa, from governments to infrastructure development, import-export regulations, lack of transparency and risks to title that undermine investor confidence. But if African governments can get on top of that, working with international partners, then there are significant opportunities for Africa and its workforce, for their collective benefit.”

Such challenges and opportunities will be discussed, alongside strategies and solutions, at the GC Forum Extractives on 11 February, which this year is being held under the theme “Africa’s Critical Core | Minerals, Markets & Global Collaboration”. 

Collaboration is vital, and Fraser is particularly looking forward to meeting and discussing experiences and issues with the wide variety of African mining stakeholders who will be in attendance, from mining and energy General Counsel and in-house teams, to mining company leaders, risk and compliance experts, government, investors and financiers, academics, and NGOs. “It's a massively important event, because usually you have all these different groups in siloes.”

Communication creates connectivity, says Fraser. “You have to be on the ground, and understand the problems in real time. You have to know what mining GCs are thinking and prioritising, to understand the regulatory, commercial, and political landscapes where you're operating. At the GC Forum, I can take in what politicians from African jurisdictions are saying, what the mines are saying, what lawyers on the ground are saying. It creates the whole picture you need to advise properly, on all sides.”

For more more information on the GC Forum | Extractives, including further details of our speakers and 2026 agenda, please visit the website here. 

This event is free to attend for mining and energy GCs and in-house legal teams; mining and energy professionals in leadership, risk and compliance roles; government relations, policy and regulatory professionals; investors and financiers in the mining and energy sectors; NGOs and academia. Registration is closed to non sponsoring law firms. 

To attend please register here.